Gold Higher as Investors Skeptical of Spain’s Bailout (GLD)
Tweet
Share
E-mail
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley is out with its gold price outlook for 2027
- Gold rebounds toward $4,450 on US policy uncertainty
- Texas Stock Exchange wins first primary listings with TCBI’s ETFs
Create E-mail Alert Related Categories
Commodities, ETFsSign 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!
