Gold Gained As Investors Weighed The U.S. Fed Outlook For Stimulus

Gold slid 23 percent this year, wiping $59.3 billion from the value of gold exchange-traded product holdings, after some investors lost faith in the metal as a store of value. Declines accelerated last quarter as the Fed indicated its bond-purchase program could be tapered should the job market improve. Gold’s drop to a 34-month low on June 28 spurred more physical demand. Gold gained as investors weighed the U.S. Fed outlook for stimulus Gold gained for the fifth time in six sessions in New York as U.S. retail sales rose less than expected in June, boosting speculation the Federal Reserve…