Zurich, October 31, 2014
Gold continued to fall on Friday, trading at levels not seen since 2010, as the US dollar surged in the wake of a surprise stimulus move from the Bank of Japan.

At last check, gold for December delivery GCZ4, -3.00% slumped USD 23.80, or 2%, to USD 1,174.70 an ounce. December silver SIZ4, -3.56% gave up a 36 cents to USD 16.06 an ounce.

A more hawkish-than expected U.S. Federal Reserve statement has already been weighing on gold this week. The Fed‘s official ending of its bond-buying stimulus program on Wednesday smacked prices hard, as gold shed 2.2% amid signs of a healing economy. The U.S. economy expanded 3.5% in the third quarter, data showed Thursday.

Overnight, the Bank of Japan shocked markets with a move to expand the pace of quantitative easing, triggering a 5% surge in the Nikkei 225 index NIK, +4.83% The dollar USDJPY, +2.52% touched its highest level against the yen since January 2008.

Source: www.marketwatch.com