Gold Dips below $1,200 an Ounce for First Time Since June

Brian Giesen

Gold Dips below $1,200 an Ounce for First Time Since June (Bloomberg)

Gold fell below $1,200 an ounce in London and New York for the first time since June amid an improving U.S. economy and the Federal Reserve‘s announcement yesterday of plans to scale back on its monetary stimulus bond buying in January 2014. Those developments have curbed demand for precious metals as alternative assets. Bullion declined as much as 1.5 percent to $1,199.63 an ounce in London trading — the lowest since June 28. Bullion for February delivery fell as much as 3 percent to $1,98 on the Comex in New York on trading volume that doubled its average for the past 100 days.at one point this morning.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.