Gold rose in London for a second day after the Federal Reserve’s stimulus boosted demand for metals. Platinum advanced.
The Federal Open Market Committee said it will “await more evidence” for sustained economic recovery before reducing its $85 billion in monthly stimulus, according to a statement yesterday. Gold slid 18 percent this year on speculation that the Fed would taper support programs that helped the precious metal cap a 12-year bull run in 2012. Bullion rallied yesterday as the Standard & Poor’s 500 Index of equities rose to a record.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.