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Gold Back Near Mid-$1,700 Ahead of Widely-Expected Fed Taper

Published 03/11/2021, 18:00
Updated 03/11/2021, 18:00
© Reuters.

By Barani Krishnan

Investing.com - Gold prices returned to near mid-$1,700 levels on Wednesday ahead of the Federal Reserve’s widely-expected taper of its long-running stimulus for the U.S. economy.

U.S. gold futures’ most active contract, December, settled down $25.50, or 1.4%, at $1,763.90 an ounce.

The Fed will issue its monthly monetary policy statement at 2:00 PM ET (18:00 GMT), where the central bank is expected to lay out the timetable for reducing the $120 billion it has spending monthly over the past year on bonds and other asset purchases to support the economy in the midst of the COVID-19.

Latest comments

yes. taper only begins in June next year. Bet on Jerome Powell getting his piece of the pie in his stock portfolio.
Gold will rise again
U.S. 10 years Bond yield should continue to rise to record levels to keep U.S. $ stronger & stronger against all major currencies to curb inflation , day to day rising crypto currencies & other pressures emerged due to coving 19.
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