Although the Fed retained the pace and size of QE in October, gold slipped as the post-FOMC meeting statement released yesterday did not rule out the possibility of a December taper. Strength in the US dollar also pressured the yellow metal. Yet, it appears increasingly likely that the tapering would begin in January 2014, instead. A Citigroup survey suggested that participants’ speculations of the odds of a taper in January rose to 45%, from 25% before the announcement.
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Gold Eased as December Tapering Not Ruled Out
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