Gold gained for the first time in four days in New York as investors weighed the Federal Reserve’s stimulus plans before reports forecast to show the U.S. economy is improving.
Futures lost 23 percent since the start of April, heading for a record quarterly loss, after the Fed said last week the central bank may slow asset purchases if the economy continues to improve. Reports due today may show jobless claims fell and personal incomes and spending rose, estimates compiled by Bloomberg show. New York Fed President William C. Dudley and Atlanta Fed President Dennis Lockhart are both speaking today. Richmond Fed President Jeffrey Lacker said in a Bloomberg Television interview yesterday that he expects “a couple more years of sluggish growth.”