Gold Lower as Fed Move Not Enough for a Spur Rally
Tweet Send to a Friend
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Markets Fluctuate on Chatter of Early QE Exit by Fed
- Loeb's Third Point LLC Enters Anadarko (APC), NXP Semi (NXPI), Tiffany & Co. (TIF); Exits Herbalife (HLF), Morgan Stanley (MS)
- Crude Inventory Declines 624K Barrels vs Gain of 450K Expected
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Federal Open Market Committee
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
