Gold Slips Ahead of Fed Meeting

Gold prices were down by 0.1 percent, to $1,254.74 per ounce, today as European stock markets recovered from dramatic lows and emerging markets stabilized, according to Reuters. Meanwhile, US gold futures for February delivery were down $7.40 an ounce, to $1,256.20 an ounce.
Many investors are reluctant to trade much ahead of the US Federal Reserve’s two-day policy meeting, set to commence Tuesday afternoon. Investors are waiting to see if the Fed will go through with scaling back its bond-buying program. Similar expectations were a large component of gold’s 28-percent drop in price in 2013, according to the news source.