Gold Lower as Fed Move Not Enough for a Spur Rally
Tweet
Share
E-mail
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wolfe forecasts August payrolls growth of 65k ahead of September FOMC
- Oil drops more than $2 despite new US sanctions on Iran
- Morgan Stanley is out with its gold price outlook for 2027
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Federal Open Market CommitteeSign 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!
