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Nov. 1, 2021, 1:42 p.m. EDT

Gold futures finish higher, but stay below the $1,800 mark

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By Myra P. Saefong

Gold futures settled higher on Monday, but remained below the key $1,800 mark as the market awaited Wednesday's Federal Reserve decision on monetary policy. "The bear camp in gold and silver should be licking their chops as the markets widely expect the Fed to announce the beginning of tapering of asset purchases on Wednesday," analysts at Zaner wrote in Monday's report. "With the added pressure of a surge in the dollar form last week's lows and the recent rise in U.S. short-term interest rates, the bear camp has several themes operating in its favor. For now, December gold tacked on $11.90, or 0.7%, to settle at $1,795.80 an ounce after posting a loss of about 0.7% last week.

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