Gold Regains Ground, Held Back by Strong Dollar

Reuters reported that gold inched back up on Wednesday, facing headwinds from a strong dollar and renewed concerns that the U.S. Fed may look to taper stimulus.

As quoted in the market report:

The Fed’s bond buying is tantamount to printing money and a pull back in the scheme would hurt gold’s appeal as a hedge against inflation. Uncertainty over the timing of the roll back has already pushed the metal down 21 percent this year, after 12 annual gains.

To view the whole Reuters report, click here.