Gold up on QE3 hope in the US, sets new record, While Bernanke did not explicitly say anything on further easing at Jackson Hole, the bullion market is expecting some more measures in the US Federal meeting on September 12-13
While Bernanke did not explicitly said anything on further easing, the bullion market is expecting some more measures in the US Federal meeting on September 12-13, which will be a crucial meeting ahead of US Presidential election in November.
“Gold is used as a hedge against the weakening economic environment. The latest speech by the Federal Reserve chairman gives a signal that the US economy requires outside support which Bernanke may announce in the Federal Open Market Committee (FOMC) meeting in September. Till then, euphoria in the bullion market would continue
The speech, however, had no surprise element in it. The bullion markets had already factored in the possibility of quantitative easing (QE3). Precious metals remain the biggest beneficiary of the flow of money from outside. In case of QE3, people would have more investible surplus. Hence, bullion prices are going up in anticipation of QE3
While Bernanke did not explicitly said anything on further easing, the bullion market is expecting some more measures in the US Federal meeting on September 12-13, which will be a crucial meeting ahead of US Presidential election in November.
“Gold is used as a hedge against the weakening economic environment. The latest speech by the Federal Reserve chairman gives a signal that the US economy requires outside support which Bernanke may announce in the Federal Open Market Committee (FOMC) meeting in September. Till then, euphoria in the bullion market would continue
The speech, however, had no surprise element in it. The bullion markets had already factored in the possibility of quantitative easing (QE3). Precious metals remain the biggest beneficiary of the flow of money from outside. In case of QE3, people would have more investible surplus. Hence, bullion prices are going up in anticipation of QE3
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