(Bloomberg) -- Gold held losses after a two-day drop on expectations that the Federal Reserve will continue to taper stimulus in the U.S. and as holdings in the largest exchange-traded fund shrank by the most in two months.

Bullion for immediate delivery traded at $1,313.43 an ounce at 2:11 p.m. in Singapore from $1,311.60 yesterday, when prices dropped 0.8%. It touched $1,332.45 on Feb. 18, the highest since Oct. 31, before closing 0.5% lower. Gold for April delivery lost 0.6% to $1,312.40 on the Comex.

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