Gold and silver fell in New York, slumping to the lowest since 2010, as the dollar strengthened after the Bank of Japan unexpectedly boosted stimulus and the Federal Reserve ended asset purchases this week.
The Fed is weighing the timing of interest-rate increases as other central banks add to stimulus to bolster their economies. The Bank of Japan said today it’s targeting an expansion of its already unprecedentedly large monetary-stimulus program by 80 trillion yen ($723 billion), sending the yen to a six-year low against the dollar. Gold yesterday erased the year’s advance after U.S. gross domestic product beat estimates.
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