Fed Decisions affected the Gold and Silver, while supported Oil

Fed Decisions affected the Gold and Silver, while supported Oil  
The Fed said it will cut monthly bond purchases to $75 billion from $85 billion, citing an improved outlook for the U.S. employment market ahead of jobless-claims data today.


The announcement of the Federal Reserve’s January tapering plans has pushed the Gold down and has lost its demand as hedge against inflation.

The Gold hit as low as  $1,199.44 per ounce, and was  trading under that key $1,200 level for the first time since June 2013.

Gold started its decline since late Wednesday after the Fed said it would cut its pace of monthly asset bonds buying from $85 billion to $75 billion.


Crude Oil rose to $97.7 after the Fed decision, as the stimulus has supported assets such as commodities

U.S. crude held gains after data from the U.S. Energy Information Administration (EIA) showed crude inventories in the world's largest oil consumer dropped to 372.3 million barrel. Brent Crude also rose to trade near $110.

The precious metals including the Gold and Silver have lost their demand as safe haven against inflation. Silver traded lower after the Fed decision and declined  to $19.13.

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