Gold fell today after the Federal Reserve announced another round of quantitative easing tapering. The Fed said in the statement:
Beginning in May, the Committee will add to its holdings of agency
mortgage-backed securities at a pace of $20 billion per month rather than $25 billion per month, and will add to its holdings oflonger-term Treasury securities at a pace of $25 billion per month rather than $30 billion per month.
Such decision was largely expected. The dollar dropped after the announcement, but the drop did not help gold to rise. It looks like
June futures for bullion retreated $4.40 (0.34 percent) to $1,291.90 per troy ounce as of 23:38 GMT on COMEX today. Other precious metals fared a bit better.
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