(Bloomberg) -- Gold bounced from its lowest close in 10 months before the U.S. Federal Reserve's meeting to set interest rates amid unanimous expectations for the first increase this year.

The metal has tumbled in the past month, partly on anticipation of the decision as well as a surge in U.S. equities to records since the election of Donald Trump as president, who has pledged to spur investment. Fed funds futures show investors are pricing further increases in borrowing costs next year.

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