Gold erases loss following FOMC

|By:, SA News Editor

Down nearly 2% and flirting with falling below $1,300 per ounce, gold bounces to slightly in the green following the FOMC policy statement more concerned with slowing growth, rising interest rates, and slowing inflation than with tapering QE purchases.

GLD -0.1%, IAU -0.2%.

Silver reverses course as well.

SLV +0.6%.