Illustration. (Photo: Reuters)
SINGAPORE -gold price to rise two percent to the highest level in five months, and appears to be continuing as the rally yesterday. Speech of the Chairman of the Federal Reserve Ben Bernanke became the key soaring gold prices in the global market.
Bernake, in pidatornya, gives hope a new round of monetary stimulus to the economy of United States (US). Having traded in stagnant, gold finally drove to USD 1,700 per troy ounce, the highest since March.
Gold noted an increase in the largest daily in two months, beating equities are up at the end of yesterday's trading is thin. Gold has doubled the profit of 4.5 percent in August, the biggest increase in a row since January.
In a speech to bankers central bank in Jackson Hole, Wyoming, Bernanke Highlights US labor market still stagnant. He said the US economy faces a daunting challenge. as a result, The Fed is prepared to buy government bonds in quantitative (QE) phase III.
"The main Catalyst for a rebound in gold prices is because Bernanke uses the wording concerns, and the interpretation that there be QE, if he says the u.s. economy is in a terrible projection," said the head of Wealth Management, investment Jeffrey Sica SICA, reported by Reuters, from Saturday (1/9/2012).
The price of gold had fallen after Bernanke's speech, but rebound quickly for USD45 per troy ounce or nearly three percent of its elevation is session.
Type of Spot Gold climbed 1.8 per cent to 685.89 per USD1, troy ounces, the biggest one-day rise in the last two months. Gold managed to rebound from the lowest levels at a level of EUR 1.646 per troy ounce,73. Gold could move the highest session per USD1, 691.80 troy ounces, the highest since March 27.
While the Comex gold futures for December delivery Glod, closed up USD30,50 per troy ounce to USD per troy ounce 1,769 .60, with trade volume highest in a month.
Up to this point, gold is already recorded a rise of eight percent, still far from the highest rise by 15 percent in January, when the Fed indicated the presence of monetary stimulus will be, and said it would keep interest rates near zero until at least the end of 2014. (Expost News)
Bernake, in pidatornya, gives hope a new round of monetary stimulus to the economy of United States (US). Having traded in stagnant, gold finally drove to USD 1,700 per troy ounce, the highest since March.
Gold noted an increase in the largest daily in two months, beating equities are up at the end of yesterday's trading is thin. Gold has doubled the profit of 4.5 percent in August, the biggest increase in a row since January.
In a speech to bankers central bank in Jackson Hole, Wyoming, Bernanke Highlights US labor market still stagnant. He said the US economy faces a daunting challenge. as a result, The Fed is prepared to buy government bonds in quantitative (QE) phase III.
"The main Catalyst for a rebound in gold prices is because Bernanke uses the wording concerns, and the interpretation that there be QE, if he says the u.s. economy is in a terrible projection," said the head of Wealth Management, investment Jeffrey Sica SICA, reported by Reuters, from Saturday (1/9/2012).
The price of gold had fallen after Bernanke's speech, but rebound quickly for USD45 per troy ounce or nearly three percent of its elevation is session.
Type of Spot Gold climbed 1.8 per cent to 685.89 per USD1, troy ounces, the biggest one-day rise in the last two months. Gold managed to rebound from the lowest levels at a level of EUR 1.646 per troy ounce,73. Gold could move the highest session per USD1, 691.80 troy ounces, the highest since March 27.
While the Comex gold futures for December delivery Glod, closed up USD30,50 per troy ounce to USD per troy ounce 1,769 .60, with trade volume highest in a month.
Up to this point, gold is already recorded a rise of eight percent, still far from the highest rise by 15 percent in January, when the Fed indicated the presence of monetary stimulus will be, and said it would keep interest rates near zero until at least the end of 2014. (Expost News)
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