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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold’s price may have changed but the fundamental drivers haven’t - Levenstein

Posted on 01 March 2013

Only a week ago, the price of gold plunged below $1600 due to the US Federal Reserve’s Federal Open Market Committee minutes from its latest meeting at the end of January. Although prices began to slip ahead of the release of the minutes, the selling accelerated after the minutes hinted that the Fed could possibly end its QE3 debt-monetization campaign sooner rather than later.
On Tuesday, the price of gold soared by nearly 2% in the biggest one-day percentage gain since 6 November, 2012. The gold price reacted to comments made by the U.S. Federal Reserve chairman Bernanke in a Senate hearing………………………………………..Full Article: Source


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VRS - who has written 36568 posts on Opalesque Commodities Briefing.


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