Will central bankers soon launch another round of monetary easing?
*Reuters, by Frank Tang, August 17, 2012
”PRECIOUS-Gold rises on hopes for central bank stimulus
Gold rose nearly 1 percent on Thursday as comments by German Chancellor Angela Merkel and disappointing U.S. manufacturing and housing data fueled speculation that central banks may be set to launch more bullion-friendly stimulus measures. Platinum rose 3 percent as supply worries in South Africa prompted investors to buy the metal. Labor unrest forced Lonmin, one of the world’s top platinum producers, to cease production. South Africa accounts for three-quarters of the world’s platinum output.
Gold posted its biggest one-day gain in two weeks after Merkel voiced support for European Central Bank President Mario Draghi’s crisis-fighting strategy.
Most Wall Street economists still expect the Federal Reserve to do more to stimulate growth this year, with the majority looking for action as soon as September after an annual meeting of economists and central bankers in Jackson Hole, Wyoming, on Aug. 31.”
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.