News: Gold falls after U.S. Fed reduces stimulus

Gold prices fell today after the Federal Reserve reduced its stimulus efforts and signaled it expects to raise interest rates sometime in 2015.

Gold for December delivery, the most active contract, was recently down 0.4% at US$1,231.90 a troy ounce in electronic trading on the Comex division of the New York Mercantile Exchange.

The December contract had settled at $1,235.90 an ounce when gold trading on the Comex floor ended at 1:30 p.m. EDT, roughly half an hour before the Fed's policy statement was released.