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Silver Prices Rally On Monetary Easing Hopes, Feds Policy Decision Could End Gains
Sep. 11, 2012 05:52PM PST
Silver InvestingMarketWatch reported that gold and silver prices have rallied on further bets of global central banks monetary easing, although the upcoming policy decision by the U.S. Federal reserve could put an end to those gains.
MarketWatch reported that gold and silver prices have rallied on further bets of global central banks monetary easing, although the upcoming policy decision by the U.S. Federal reserve could put an end to those gains.
As quoted in the report:
On Thursday, the Fed will make an announcement on monetary policy — potentially deciding on further quantitative easing, such as large purchases of bonds.
Julian Phillips, founder of, and writer at, GoldForecaster.com and SilverForecaster.com, commented:
Gold has none of the characteristics of currencies, which is why it is a counter to currencies. Gold, and silver, are saying no matter what politicians and bankers do now, precious metals are the place to be.
Gold and silver have broken out now, and no news from developed world bankers or politicians will stop [them] now.