Gold falls as investors weigh Cyprus, Fed statement
The ECB pledged to provide liquidity to Cyprus after the nation's lawmakers rejected an unprecedented levy on bank deposits
 "Gold falls as investors weigh Cyprus, Fed statement")
Gold today fell from three-week high as investors awaited the US central banks latest policy statement amid concerns that Europes debt crisis may worsen.
Gold lost 0.1 % to USD 1,610.85 an ounce. It reached USD 1,615.76 yesterday, the highest since February 26. However, silver was up 0.1 % USD 28.94 an ounce.
The European Central Bank pledged to provide liquidity to Cyprus after the nation's lawmakers rejected an unprecedented levy on bank deposits, throwing into limbo a rescue package designed to keep it in the euro.
Gold is down 3.8 % this year amid signs the US economy is improving. The Federal Reserve ends a two-day policy meeting today.
Cypriot lawmakers rejected the USD 7.5 billion bank-deposit levy that had been proposed in return for 10 billion euros in external aid.
Gold lost 0.1 % to USD 1,610.85 an ounce. It reached USD 1,615.76 yesterday, the highest since February 26. However, silver was up 0.1 % USD 28.94 an ounce.
The European Central Bank pledged to provide liquidity to Cyprus after the nation's lawmakers rejected an unprecedented levy on bank deposits, throwing into limbo a rescue package designed to keep it in the euro.
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Cypriot lawmakers rejected the USD 7.5 billion bank-deposit levy that had been proposed in return for 10 billion euros in external aid.