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Gold Falls on Hints of October Tapering

Gold Falls on Hints of October Tapering (CNBC)

Comments from St. Louis Fed President James Bullard that the U.S. Federal Reserve could announce tapering after its next meeting at the end of October led gold to fall three percent today. “Though the Fed didn’t deliver the widely expected tapering, investors are convinced that this move is only postponed,” Alexander Zumpfe, a trader at Heraeus, said. “That obviously weighs on fresh buying interest.”

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