Gold Futures Struggle for Direction Post-Fed Glow

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"Gold futures weaved in and out of the red Monday, looking for a firmer direction after they rallied strongly last week on the Federal Reserve's latest bond-buying plan."

MarketWatch, Claudia Assis and Sara Sjolin

Gold futures weaved in and out of the red Monday, looking for a firmer direction after they rallied strongly last week on the Federal Reserve's latest bond-buying plan.

Gold for December delivery GCZ2 -0.11% retreated $0.60 to $1,772.20 an ounce on the Comex division of the New York Mercantile Exchange.

The metal gained 1.9% last week as plans by the Federal Reserve to launch fresh monetary-easing measures spurred demand for gold.

Stocks Extend Fed Rally

Stocks edged higher, extending Thursday's rally after the Federal Reserve announced bond-buying plans. Paul Vigna has details on The News Hub.

"The good news about gold today is that we're not down substantially," said Adam Klopfenstein, a senior market strategist with Archer Financial in Chicago. "The market is digesting a big meal from the Fed last week."

Gold is seen as a hedge against inflation and tends to benefit amid fears of currency debasement. . .View Full Article

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