CNBC reported that gold reached $1,615 per ounce as expectations mounted that central banks would help stimulate the economy by further policy easing.
Analyst at UBS Wealth Management in Singapore, Dominic Schnider, commented:
You can take it as a sign that chances of QE (quantitative easing) are improving.
But this does not mean that a QE will come anytime soon, he cautioned, given the Fed just recently extended its “Operation Twist” program which involves selling short-term securities to buy longer-term ones to keep long-term borrowing costs down.
To read the full CNBC article, click here.
