CHICAGO, Aug 1 (Xinhua): Gold futures on the COMEX division of the New York Mercantile Exchange fell yesterday as investors speculated that an improving US economy provided backing for the Federal Reserve to tighten monetary policy.
The most active gold contract for December delivery fell 14.1 U. S. dollars, or 1.09 per cent, to settle at 1,282.8 dollars per ounce.
Analysts said that gold retreated for a third straight day, as investors weighed the implications of robust economic growth and signs of rising wage inflation on the central bank's policy. In its announcement released after a two-day policy meeting, the Fed noted the recent decline in unemployment. "Labor market conditions have improved, with the unemployment rate declining further," it said.
Gold slips as traders weigh US Federal Reserve announcement
FE Team | Published: August 02, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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