Gold Set To Rise On Easing Speculation

Bloomberg reported that gold prices are expected to gain on speculation of additional monetary easing by the Federal Reserve.

Andrey Kryuchenkov, an analyst at VTB Capital in London, wrote:

Many market participants expect the U.S. central bank to initiate another round of quantitative easing given that the momentum of the U.S. economic recovery has been slowing. Investor interest in gold is far from overwhelming despite ongoing macro uncertainty.

Click here to read the full Bloomberg report.

Gold for August delivery was little changed at $1,592.30 an ounce by 7:46 a.m. on the Comex in New York. Prices are up 1.6 percent this year. Bullion for immediate delivery was 0.2 percent higher at $1,592.85 in London.