The U.S. central bank was expected to announce its plans for interest rates later Wednesday. Any sign the Fed plans to raise interest rates would boost the value of the dollar and weigh on gold prices. Alternatively, any sign that the bank intends to extend much beyond mid-2013 the time it holds interest rates near zero would hurt the dollar and thus support gold prices.
Gold f
or February delivery declined $9.10 to $1,656.20, while spot gold fell $21.60 to $1,655.13. Silver for March delivery was off 21 cents to $31.77, while spot silver was off 54 cents to $31.85.Gold prices advanced in Asia jan 25 2012
February gold on the COMEX declined $13.80 (-0.82%) to $1,664.50 a troy ounce
Silver futures for March delivery declined 30 cents (-0.91%) to $31.98 a troy ounce. The ratio between gold and silver was 52.1. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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