Gold Falls to $1,322 Over Stimulus Uncertainty

Gold prices sank Sept. 23 due to fears a tapering of the Federal Reserve’s stimulus is still possible by the end of the year.

Gold futures for December delivery were down as much as $14 earlier in the session today before hitting $1,322 an ounce — a drop of $10.40 from the previous session, MarketWatch reported.

Gold prices for immediate delivery fell $3.97 to $1,322.56 in London, according to Bloomberg.

Citigroup analysts Ed Morse and Heath Jansen said gold could fall below $1,250 an ounce by the end of 2013 as the economy improves and the Fed reduces its bond-buying program.