Gold falls on upbeat economic data
Victoria Hewitt-Marsh, News Editor
31 Jan 2014, 10:52 a.m.
Gold dropped 2% yesterday, it's largest one day decline for over a month following the Federal Reserve’s decision to taper its monthly asset program by a further $10bn per month and the release of positive economic data from the U.S.
The S&P closed 1% higher after better than expected U.S. household spending and export data resulted in the U.S. economy expanding by 3.2% in the fourth quarter of 2013.Silver, Platinum and Palladium all traded lower yesterday.