Gold fell for the first time in three sessions in New York as the U.S. Federal Reserve meets today and may decide on the timeline for reducing stimulus. Silver also slid.
About 34 percent of economists surveyed by Bloomberg on Dec. 6 predicted that the Fed’s Federal Open Market Committee will start paring stimulus when it concludes a two-day policy meeting tomorrow. Gains in manufacturing, technology and housing fueled “modest to moderate” economic growth from early October through mid-November, the central bank said in its Beige Book survey released Dec. 4.
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