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Gold Back Near Mid-$1,700 Ahead of Widely-Expected Fed Taper

Commodities33 minutes ago (Nov 03, 2021 18:00)

© Reuters.

By Barani Krishnan

Investing.com – Gold prices returned to near mid-$1,700 levels on Wednesday ahead of the Federal Reserve’s widely-expected taper of its long-running stimulus for the U.S. economy.

U.S. gold futures’ most active contract, December, settled down $25.50, or 1.4%, at $1,763.90 an ounce.

The Fed will issue its monthly monetary policy statement at 2:00 PM ET (18:00 GMT), where the central bank is expected to lay out the timetable for reducing the $120 billion it has spending monthly over the past year on bonds and other asset purchases to support the economy in the midst of the COVID-19.

Gold Back Near Mid-$1,700 Ahead of Widely-Expected Fed Taper

Britain to auction 80.5 million carbon permits in 2022
By Reuters – Nov 03, 2021

LONDON (Reuters) – Britain will auction 80.5 million carbon permits it 2022 ICE (NYSE:ICE), which is hosting the auctions, said in a market notice on Wednesday.
The auctions are…

Russian gas pipeline stuck in reverse in Europe
By Reuters – Nov 03, 2021

By Nora Buli and Susanna Twidale (Reuters) -A major Russian pipeline that supplies natural gas to Europe remains stuck in reverse after requests to transport gas westwards through…

Oil Stockpiles Rose By 3.291M Barrels Last Week: EIA
By Investing.com – Nov 03, 2021

By Sam Boughedda
Investing.com — U.S. oil stockpiles increased by more than expected in the latest week, the Energy Information Administration said on Wednesday.
Crude inventories…

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