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Gold Hits Record After Fed Says Low Rates to Stay
Apr. 27, 2011 05:01PM PST
Precious Metals InvestingReuters reported that a drop in the value of the dollar and low interest rates launched gold to another all-time high.
Reuters reported that a drop in the value of the dollar and low interest rates launched gold to another all-time high.
The market news is quoted as saying:
James Steel, who follows the gold market for HSBC in New York, said the statements “put the nail in the coffin” to any thoughts investors had of the Fed raising rates soon to control inflation — its other responsibility.
