Gold Closes at Mont-Low Ahead of Fed Meeting

Gold prices declined on Tuesday, to close at their lowest level in about a month, as the U.S. Dollar (USD) continues to fluctuate with markets anticipating the outcomes of the Federal Reserve.

Talks about possible tapering seem to be weighing on the yellow metal ahead of the Fed’s decision.

Gold futures for August delivery lost $9.50, or 0.51%, to close at $1,854.50 per ounce.

This marked the lowest closing level for gold’s most active contract since May 14.

Meanwhile, silver futures for July delivery declined by 35 cents, or 1.2%, to settle at $27.69 per ounce.