Hot-Gold fell to a four-week low

 picture from forbes

Gold fell to a four-week low in London as the dollar’s rally cut demand for the metal as an alternative asset after the Federal Reserve said it will buy longer-maturity U.S. debt. Palladium slid to a nine-month low.

The dollar climbed to a seven-month high against six major currencies after the Fed moved to lower long-term borrowing costs and said there are “significant downside risks” to the economic outlook. Commodities including copper and crude oil slid today. Gold touched a record $1,921.15 an ounce on Sept. 6.

source bloomberg