Gold Pulls Back as Investors Wait for U.S. Central Bank Meeting

Reuters reported that gold slid on Thursday in London, building on the losses from the previous session, as investors try to peg in which direction the Fed will go with QE.

As quoted in the market report:

The selling gained speed after support at $1,321 broke once again,” Heraeus trader Alexander Zumpfe said. “It failed to deliver sufficient support already yesterday evening, but finally the metal managed to close above it. Today the break through that level looks a bit stronger.

To view the whole Reuters report, click here.