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Will the Fed’s interest rate commitment through 2014 increase the value of metals?
*Financial Times, by Vivianne Rodrigues, January 26, 2012
”Stocks in Europe and Asia climbed to fresh multi-month highs, gold soared and the dollar fell amid renewed belief among investors that the US Federal Reserve stood ready to support financial assets. Risk appetite was strong, with commodities also seeing strong demand — copper rose about 2 per cent to hover around a four-month high — while currencies such as the Australian dollar also gained ground.”
”One of the most stark beneficiaries of the Fed’s commitment to stay ‘lower for longer’ is gold. The bullion soared above the $1,700-an-ounce mark immediately after the central bank’s announcement — jumping $50 — and is continuing to find favour, up another 1 per cent to $1,725 an ounce.”
*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.