Gold futures on the COMEX division of the New York Mercantile Exchange ended lower on Tuesday (Wednesday morning GMT ) , as traders continue to wait for news about the fate of the Federal Reserve's program of buying U.S. bonds .
The most active gold contract for February delivery fell 14.3 U.S. dollars , or 1.15 percent , to settle at 1230.1 dollars per ounce . This decrease following the increase in two consecutive sessions of 1.6 percent , due to their short -term position adjustment .
According to market analysts , the central question is whether and how much the Fed will decide to reduce its bond -buying program , known as quantitative easing ( QE ) . Possible reduction stimukus ( tapering ) has risen sharply after the release of U.S. economic data was largely positive .
Gold investors are awaiting the announcement of the Federal Open Market Committee ( FOMC ) , the Fed's policy unit , which will be determined on Wednesday .
Gold has fallen 27 percent so far tahuh to date , toward the first annual loss since 2000 . Some investors have lost confidence in the precious metal amid record U.S. equities rally and speculation that the Fed will rein in its monthly bond purchases 85 billion dollars .
Silver for March delivery fell 26.1 cents , or 1.30 percent , to close at 19.840 dollars per ounce , according to Xinhua .
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