Gold futures drop to six-week low

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Friday, August 01, 2014

WSJ: Gold for December deliver fell $14.10, or 1.1% to $1,282.80 per troy ounce.

Gold prices dropped 28% in 2013, as many traders anticipated that the Federal Reserve would roll back its stimulus efforts, a decision it announced in December. The central bank's bond-buying effort was a key support for gold prices in recent years as investors flocked to the precious metal as a hedge against inflation, a risk associated with loose monetary policy.

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