Gold fell for a sixth day in New York, trading below $1,300 an ounce, as investors weighed when the U.S. Federal Reserve will slow the pace of bond purchases.
Federal Reserve Bank of Dallas President Richard Fisher, one of the most vocal critics of quantitative easing, said yesterday the central bank is closer to slowing bond purchases. Gold rose 7.3 percent in July, the first gain since March, after Fed Chairman Ben S. Bernanke said that it’s too early to decide whether to begin paring asset purchases in September.
via Bloomberg
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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