Gold futures rose to a three-week high on speculation that the Federal Reserve will maintain the pace of monetary stimulus to boost economic growth.
Fed policy makers will delay reducing $85 billion in monthly bond purchases until March, according to the median estimate of 40 economists in a Bloomberg survey last week. The partial U.S. government 16-day shutdown that began Oct. 1 amid a political deadlock in Washington over spending probably trimmed 0.25 percentage point from fourth-quarter economic growth and cost 120,000 jobs in October, President Barack Obama’s chief economic adviser said on Oct. 22.
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