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Gold prices slip as investors take profits

Gold prices slip as investors take profits

Gold prices are slipping as investors sold holdings for a profit before the Federal Reserve announced a new multibillion dollar bond-buying program.
Gold for December delivery fell $19.30 Wednesday to settle at $1,337.60 an ounce. Other metals also are falling.
The Federal Reserve says it will buy $600 billion more in Treasury bonds through the middle of 2011. Its goal is to further drive down interest rates on mortgages and other debt in an effort to boost U.S. economic growth.
Most energy prices are higher after the announcement.


Updated : 2021-05-12 04:29 GMT+08:00