MW: Gold loses nearly $50 an ounce on Fed decision
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold futures sank Wednesday as investors reacted negatively to Tuesday's U.S. Federal Reserve policy statement and moderately positive views of the economy, burying any hopes of more easing and taking away one of the main pillars of support for the metal. Gold for April delivery GCJ2 -2.99% was off $48.20, or 2.85, to $1,646.20 an ounce on the Comex division of the New York Mercantile Exchange.
