Gold headed for the first weekly loss since December as signs of faster U.S. economic growth increased bets that the Federal Reserve will keep cutting stimulus and a decline in emerging markets eased.
Gold held declines after the Federal Reserve reduced monthly bond-buying and said it would continue trimming the pace of asset purchases amid U.S. economic growth.
Gold swung between gains and losses after sliding to the lowest level in almost two weeks as the Federal Reserve said that it will trim its monthly bond purchases on an improved outlook for the U.S. jobs market.
"Gold's decline may be attributed to investor positioning ahead of the upcoming meeting as investors have largely priced in the expectations that the Fed may announce an end to the quantitative-easing program."
- James Steel on Oct 27, 2014
HSBC’s Steel Says Gold ‘Recovering in the 2nd Half’ (Audio)
HSBC’s Steel Sees Dichotomy in the Gold Market (Audio)
HSBC’s Steel Sees Gold Topping $2000 per Ounce
Steel Says Gold Price Increase Will Be Moderate
Steel Says Gold `Vulnerable’ to Another Selloff