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

Gold jumps above $850 after Fed slashes US rate

Posted on 17 December 2008

From Guardian: Gold rallied above $850 an ounce on Tuesday after the Federal Reserve slashed U.S. interest rates to fight a global economic slowdown, bolstering bullion’s appeal as a hedge against inflation.

The U.S. Federal Reserve cut its target for overnight rates to a record low zero to 0.25 percent, and said it would employ “all available tools” to dispel a year-long recession….. Full Article: Source


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VRS - who has written 36729 posts on Opalesque Commodities Briefing.


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