Gold futures closed higher Wednesday, finding support on the back of emerging-market concerns and a sharp decline in U.S equities, but prices for the metal slipped in electronic trading after the Federal Reserve’s decision to taper its bond-buying program by another $10 billion a month to $65 billion. Oil futures on the New York Mercantile Exchange lost more ground following the announcement. February gold GCG4 +0.10% was last at $1,259 an ounce in electronic trading on Globex, after settling at $1,262.20 on the Comex division of Nymex, up $11.40, or 0.9%, ahead of the Fed decision. March crude CLH4 +0.06% was at $97.20 a barrel, down 21 cents, or 0.2%, shortly before the Nymex close.
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