Investor Concern In Advance of U.S. Fed Meeting Pulls Gold Down Slightly

Bloomberg reported that gold pulled back on Monday in London, as investors were cautious in advance of a two-day U.S. Fed meeting.

As quoted in the market report:

The Fed’s monthly FOMC meeting will be closely watched for any signs of QE tapering,” Jonathan Butler, a precious metals strategist at Mitsubishi Corp. (8058) International (Europe) Plc in London, wrote in a report today. That “would be bearish for gold and the other precious metals.

To view the whole Bloomberg report, click here.