Gold declined in New York, extending the worst monthly performance since June, on speculation a strengthening U.S. economy will warrant less stimulus.
Bullion futures slid 5.5 percent last month as minutes of the Federal Reserve’s latest meeting showed officials said they may reduce their $85 billion in monthly bond purchases “in coming months” as the economy improves.
Gold is set for the first annual drop in 13 years as some investors lost faith in the metal as a store of value. U.S. data released last week showed jobless claims unexpectedly fell and leading economic indicators increased. Economists surveyed by Bloomberg News expect reports this week to show growth in American manufacturing and jobs.
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