Gold Futures Hit One-Week High With Signs that QE May Linger

Bloomberg reported that gold futures hit a one-week high, encouraged by the minutes from Federal Reserve’s meeting, which suggest that employment numbers need to be stronger before the pace of bond purchases slows.

As quoted in the market report:

The gold market is pleasantly surprised, and is rallying on the minutes,” Tom Power, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview. “The unemployment number is the key number that the Fed is watching, and with that still above 7.5 percent, investors think that easing is here to stay for some time.

To view the whole Bloomberg report, click here.