Gold falls 2%, back under $1,250
The day after the Federal Reserve decided to reduce further the bond-buying program goldplummeted more than $20, suffering the worst decline in more than a month.
The value of the ounce finished Thursday at $1,243.50, the lowest daily close in a week. After starting the day near $1,270 lost momentum and accelerated the downside after breaking below $1,260.
Price made a small pause on European hours around $1,255 to resume the decline afterwards plunging to $1,238.00 (January 30 low).
During the American session gold stabilized and moved in ranges in the last hours between $1,246 and $1,240.
Gold started the week testing levels on top of $1,270 but failed to hold and retreated sharply