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Gold hits record highs in anticipation of more QE
Sep. 29, 2010 09:32AM PST
Precious Metals InvestingOn Wednesday, Gold prices rallied to record highs in Europe on fears moves by the Federal Reserve to tackle the sluggish U.S. economy would undermine the dollar, boosting investment in bullion as an alternative asset.
On Wednesday, Gold prices rallied to record highs in Europe on fears moves by the Federal Reserve to tackle the sluggish U.S. economy would undermine the dollar, boosting investment in bullion as an alternative asset.
The press release is quoted as saying:
Spot gold hit a record $1,313.20 and was bid at $1,308.60 an ounce at 0953 GMT (5:53 a.m. EDT), against $1,307.40 late in New York on Wednesday. U.S. gold futures for December delivery rose $1.80 an ounce to $1,310.10.
