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Gold Continues to Drop As Fed’s Comments Reignite Taper Fears

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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.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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