Gold Falls Most in Three Months After Fed Stimulus Cut
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Gold fell the most in three months after the Federal Reserve further reduced U.S. monetary stimulus and more officials predicted a rise in interest rates in 2015, curbing demand for the metal as a store of value.
The Fed reduced the monthly pace of bond purchases by $10 billion to $55 billion, and 13 of the 16 Federal Open Market Committee participants expect an increase in the main interest rate next year. Spot gold has lost 3.9 percent this week on signs the American economy is pulling out of a slowdown that policy makers linked in part to harsh winter weather.