Gold Remains Higher at $1266 after Fed Taper

Spot gold remained higher after the Federal Reserve said it would reduce its monthly stimulus program by another $10 billion.

Fed Chairman Ben Bernanke, who hands the central bank’s reins to Vice Chair Janet Yellen on Friday, also adjourned his last policy-setting meeting without making any changes to the U.S. central bank’s other main policy plank: its longer-term plan to keep interest rates low for some time to come.

Spot gold was last up 0.4 percent to $1,262 an ounce, off an early low of $1,249.04. U.S. gold futures for February delivery settled 0.9 percent higher at $1,255.90 an ounce.

CNBC

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