Gold Rebounds as Dollar Gains Ebb, Investors Reassess Fed Shift
- Fed quickens taper, signals three rate hikes in 2022
- ‘It’s still a decent environment for gold,’ TD’s Melek says
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Gold erased declines as the dollar slipped, with investors assessing the extent of the Federal Reserve’s hawkish tilt on Wednesday.
Federal Reserve policy makers, in a statement at the end of their two-day meeting, shifted to an earlier end of their asset-buying program and signaled a faster pace of interest-rate increases.