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Gold Futures Slump to Lowest Since July on Fed Tapering Concern

Gold retreated to the lowest since July on speculation that the Federal Reserve will start slowing the pace of monetary stimulus on signs of an improving U.S. economy.

U.S. manufacturing grew at the fastest pace in more than two years last month, an Institute of Supply Management report showed yesterday. American payrolls probably increased by 181,000 in November, according to a Bloomberg survey before the Labor Department report on Dec. 6. Fed policy makers signaled Nov. 20 that the labor market will improve enough to warrant slowing their $85 billion of monthly bond purchases.