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Gold Fluctuates at Asian Session

October 28, 2014 at 4:20 by Vladimir Vyun

Prices for gold fluctuated during the Asian trading session today. On one hand, bullion was supported by signs of demand for Asian countries. On the other, speculations about inevitable monetary tightening from the Federal Reserve continued to weigh on gold.

The Fed starts its two-day meeting today and will announce its decision tomorrow. It is expected that the US central bank will end its asset-purchase program at the meeting. The accompanying statement should have big impact on market depending on wording and its interpretation by market participants.

December contract for gold inched down 0.04 percent to $1,228.80 per troy ounce as of 4:09 GMT on COMEX today.

If you have any questions and comments on the commodities today, use the form below to reply.

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