Gold futures settle lower, then extend losses after the Fed decision

New York (July 31)  Gold futures finished with a loss on Wednesday, then extended their decline after the U.S. Federal Reserve cut key interest rates by a quarter point, as expected. December gold GCZ19, -1.15% was at $1,430.60 an ounce in electronic trading shortly after the Fed policy statement. The contract had settled down $4, or 0.3%, at $1,437.80 on Comex, ahead of the Fed news.

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