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Gold Gains Ahead of the Fed

Posted by WorldWideMarkets . on Jul 30, 2013 2:56:00 AM
Spot gold is trading around $1325 after having lost 20 percent of its value in 2013 to date on concerns that the Federal Reserve, and everyone else, is going to end the era of easy money. But recent comments from current Fed Chairman, Ben Bernanke have seen investors taper back beliefs that the U.S. central bank will end QE quite so soon. That pushed gold prices up for three straight weeks. But gold investors will be looking for more guidance from the Fed on the end or scaling back of QE before pushing the metal much higher. The Fed has no Q&E this week after the statement so much will be riding on the statement itself and the later release of the trading

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