Gold today dropped after the Federal Reserve reduced its stimulus and on speculation demand will slow in China before the Lunar New Year holiday. Gold fell by 0.8 per cent to $1,257.24 an ounce and silver by 1.7 per cent to $19.41 an ounce, reaching $19.29, the lowest this year.
The Fed said yesterday it will trim its monthly bond buying to $65 billion from $75 billion, sticking to its plan for a gradual withdrawal from an unprecedented easing policy.
Source:Economictimes
Source:Bullion Bulletin