Gold Higher as Investors Skeptical of Spain’s Bailout (GLD)
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Trouble in Spain is proving to be a boon for gold. Since the announcement of the Spanish bailout, the spot price has rallied back above 1600/oz. Gold bulls are now eying resistance at $1630.
Federal Reserve’s Charles Evans stated he is in favor of “any accommodative policy,” and extending Operation Twist and expanding asset purchases would be useful for the US economy, although dovish comments from Evans are hardly surprising.
The current spot price of gold is 1609/oz. and the ETF (NYSE: GLD) is 0.56 percent higher at 156.23 Tuesday morning.
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Federal Reserve’s Charles Evans stated he is in favor of “any accommodative policy,” and extending Operation Twist and expanding asset purchases would be useful for the US economy, although dovish comments from Evans are hardly surprising.
The current spot price of gold is 1609/oz. and the ETF (NYSE: GLD) is 0.56 percent higher at 156.23 Tuesday morning.
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