Gold Tumbles With Silver to Lowest Since 2010 on Dollar
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Gold and silver slumped to the lowest since 2010 as the dollar strengthened after the Bank of Japan unexpectedly boosted stimulus and the Federal Reserve ended asset purchases this week.
The Fed is weighing the timing of interest-rate increases as other central banks add to stimulus to bolster their economies. The Bank of Japan today raised its annual target for enlarging the monetary base to 80 trillion yen ($723 billion), up from 60 trillion to 70 trillion, sending the yen to a six-year low against the dollar. Gold yesterday erased the year’s advance after U.S. gross domestic product beat estimates.