Gold futures fell more than $21 an ounce on Tuesday as oil prices sank to their lowest levels
Gold futures fell more than $21 an ounce on Tuesday as oil prices sank to their lowest levels for the last three weeks.
Gold prices moved higher in electronic trading on Globex immediately after the U.S. Federal Reserve kept interest rates unchanged at 2%, then moved lower again. The Fed gave no sign that it plans to change policy in the foreseeable future. Read The Fed.
The Fed made its announcement at about 2:15 p.m. EDT -- after regular trading on the New York Mercantile Exchange closed.
Gold for December delivery finished Tuesday at $886.10 an ounce on Nymex, down $21.80, or 2.4%. It's down $36.60, or 4%, from the close of $922.70 on July 31.