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.”
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