SAN FRANCISCO, MarketWatch (31/10) — Gold futures fell in electronic trading Wednesday from their settlement on Comex after policy makers at the Federal Reserve said they decided to maintain the pace of the central bank’s bond-buying stimulus program, as had been widely expected.Earlier Wednesday, data showing a slowdown in U.S. private-sector job growth in October fueled expectations that the Fed wouldn’t soon taper its stimulus program. The Fed statement came shortly after metals trading on Comex closed.
December gold rose $3.80, or 0.3%, to settle at $1,349.30 an ounce on the Comex division of the New York Mercantile Exchange.
In electronic trading on Globex about a half-hour after the Fed statement, prices traded at $1,338.20, down from the Comex settlement.
The Federal Reserve voted 9-1 on Wednesday to continue monthly asset purchases of $85 billion a month, citing an elevated unemployment rate and saying Washington’s economic policies are still holding back growth. The central bank’s decision to stand pat was widely expected.
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