Saturday, January 21, 2012
Gold price benefiting from QE speculation
Signs of a decelerating global economy will likely prompt central banks to take drastic new measures in terms of fiscal expansion. This is especially true for China, where GDP growth continues to slow. Market participants also suspect that the US Federal Reserve may be edging closer to announcing more quantitative easing, in an effort to help the economic recovery in America. This speculation has led to gains in the gold price, which climbed as high as $1,667 per troy ounce in trading yesterday – although it lost some of these gains later in the day. Nevertheless, this marked a new five-week price high which could open the way for more gains. Read more on www.goldsilverwebsites.com
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