Gold Lower as Fed Move Not Enough for a Spur Rally

June 20, 2012 12:42 PM EDT
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SPDR Gold Trust ETF (NYSE: GLD) is on the move today as comments from the FOMC today announced a continuation of operation twist. The measure will see the Fed buy 6-30 year U.S. bonds while selling shorter-term securities.

Prior the release, spot gold was trading at $1605/oz. and is currently at $1592/oz. The $13 per oz spike lower came as the Fed announcement disappointed some who had hoped for more aggressive easing.

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