Gold gained in London before the U.S. Federal Reserve’s decision on a possible cut in stimulus. Platinum and palladium also advanced.
Gold tumbled 26 percent this year, heading for its first annual loss since 2000, amid speculation the Fed will start curbing its $85 billion in monthly bond buying. Officials may reduce the purchases “in coming months” as the economy improves, they said at their Oct. 29-30 meeting. While about 34 percent of economists surveyed by Bloomberg on Dec. 6 predicted the Fed will cut purchases this week, 40 percent forecast that tapering will start in March.
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