Gold Drops to Three-Week Low on Stimulus Bets; Palladium Falls

Gold market update for Tuesday, June 18: Gold has dropped to a 3-4 week low as investors eagerly await comments from the Fed and its latest policy meeting currently underway. Some believe that stronger economic data means the central bank will begin winding down its quantitative easing and stimulus programs. Fed chairman Ben S. Bernanke commented last month that the $85 billion in monthly asset purchases couldĀ  be rolled back if employment numbers continue on an upward trend. For example, May was the first month in four years where food prices fell. Read more…