Gold Back Near Mid-$1,700 Ahead of Widely-Expected Fed Taper By Investing.com

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

Commodities Nov 03, 2021 01:49PM ET

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

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.

Energy & Precious Metals - Weekly Review and Outlook By Investing.com - Jun 26, 2022 4

By Barani Krishnan Investing.com -- Fears of a recession and a seemingly ruthless Federal Reserve have wreaked havoc this month, with U.S. crude posting back-to-back weekly losses...

G7 to announce ban on import of new Russian gold on Tuesday - U.S. official By Reuters - Jun 26, 2022 3

KRUEN, Germany (Reuters) - The Group of Seven rich democracies will announce a ban on imports of Russian gold on Tuesday, as part of ongoing efforts to hold Russia accountable for...

UK, U.S., Japan and Canada to ban Russia gold imports By Reuters - Jun 26, 2022 6

LONDON (Reuters) -Britain, the United States, Japan and Canada will ban new imports of Russian gold as part of efforts to tighten the sanctions squeeze on Moscow for its invasion...

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Comments (1)

SunilKumarDixit Nov 03, 2021 2:22PM ET

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Rates unchanged, Tapering to start this month

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Suyog Subhash Nov 03, 2021 2:22PM ET

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affect gold rates or not

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

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