NY Gold Eases As Economy

The Wall Street Journal reports that U.S. economic data and a stronger dollar weighed on Comex gold prices.

The market news is quoted as saying:

The Federal Open Market Committee is widely expected to launch a Treasury purchasing program of around $500 billion to stimulate economic growth at the end of their two-day meeting Wednesday. Gold prices have set record highs as investors, worried that the program will devalue the dollar and raise inflation, purchased gold to hedge against these risks. Gold is often considered an alternative currency and is seen as a safe-harbor asset and a store of value amid economic uncertainty.

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