16 Sep by Vitaliy Dadalyan

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Gold drops as dollar rises on Fed's upbeat economic view

Gold drops as dollar rises on Fed's upbeat economic viewSpot gold was down 0.8% at $1,943.70 per ounce by 0524 GMT. U.S. gold futures slipped 1% to $1,950.50. “Investors across the Asia-Pacific are perhaps not inspired by last night’s FOMC (Federal Open Market Committee) meeting, in which the central bank seems to be reluctant to add stimulus in view of improving fundamentals,” said Margaret Yang, a strategist with DailyFx, which covers currency, commodity and index trading.

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