Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Wednesday, February 29, 2012

Gold fell by 5 % as Bernake signal no further QE

Gold in US dollar took a hit as Fed Reserve chairman puts a brake on further QE.
Gold fell below USD 1700 but managed to recover to 1720 level.

Gold plunges from Aud 1660 to 1570.
Climbing to 1600 level

1 comment:

frank howard said...

Gold and silver futures look set on Wednesday to post their biggest one-day losses year to date, but the declines “look overdone,” said Julian Jessop, chief global economist at Capital Economics, in a note.

“The trigger appears to have been disappointment that [Federal Reserve Chairman Ben Bernanke] failed to signal any further quantitative easing,” he said. But “such a signal was never very likely as early as today.”
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