October 24, 2012 at 17:15 PM EDT
Gold Prices Melt Further After Fed Statement
Gold prices continued melting Wednesday after the Federal Open Market Committee said nothing new in sticking with its easy monetary policy. Spot gold prices fell 0.35% to $1702.70 an ounce. PowerShares DB U.S. Dollar Index Bullish (UUP), measuring the greenback against a basket of major foreign currencies, was unchanged at 21.91. "Any move below $1,700 an ounce for gold will be temporary and remains an excellent buying opportunity," said Peter
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