- MarketPulse - https://www.marketpulse.com -

Gold Rises as Demand is Boosted by Fed Announcement

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.

via Bloomberg [1]

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.

Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

Latest posts by Alfonso Esparza (see all [6])