Gold drops to four-week low with FED set to dial back stimulus

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Gold fell to a four-week low after the Federal Reserve pulled forward the projected date of interest- rate increases, confirming worries the central bank would soon pare stimulus that’s spurred gains in the metal. They also released forecasts that show they anticipate two interest-rate increases by the end of 2023 – sooner than many thought — and they upgraded estimates for inflation for the next three years.

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