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GOLD Overview After Fed Decision

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Gold prices dropped as the U.S. Federal Reserve said it will begin shrinking its $4.5 trillion balance sheet in October.

Immediately after the announcement, the yellow metal began to plummet, with December Comex gold last seen trading at $1,306.20, down 0.34% on the day.

In a widely expected decision, the Fed said it will begin to unwind its $4.5 trillion in holdings of U.S. Treasury bonds and mortgage-backed securities in October by cutting up to $10 billion per month from maturing securities it reinvests.

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This article was written by Emre Tutucu for http://www.fxters.com/gold-overview-fed-decision/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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