Gold fell for a third straight session on concern that the Federal Reserve will slow the pace of its stimulus measures, lowering demand for the precious metal as a store of value.
Fed Bank of St. Louis President James Bullard said Sept. 20 that tapering may start in October after the U.S. central bank unexpectedly refrained last week from slowing its $85 billion-a-month of bond buying. Twenty-four of 41 economists surveyed by Bloomberg News on Sept. 18-19 said the Fed will take the first step in slowing its bond buying in December.
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