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Blog Archive ? Gold rallies as Fed extends low-rate pledge

-- expats
Forum Post
01/25/12 14:31
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Blog Archive ? Gold rallies as Fed extends low-rate pledge

Thank author of this post/comment25-Jan (MarketWatch) - Gold prices rallied Wednesday, reversing course as the Federal Reserve's monetary policy committee extended its pledge to keep interest rates at exceptionally low levels to late 2014, which will help boost demand for the precious metal. "The Fed telling us no rate increase to at least 2014 is a sharp rally promoter for gold as low interest rates to continue will make gold a good alternative hold and not expensive to maintain," said George Gero, a vice president with RBC. .

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