Gold Declines as Dollar Jumps on Fed’s Bond Plan to Bolster U.S. Economy

Bloomberg reported that US economic stimulus news caused gold prices to fall.

The market news is quoted as saying:

Gold for immediate delivery fell $18.40, or 1 percent, to $1,785.23 an ounce at 4:04 p.m. New York time after dropping as much as 1.3 percent. At 2:20 p.m., just before the Fed announcement, the metal traded at $1,805. The greenback rose as much 0.9 percent against a basket of major currencies, erasing earlier losses.

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