GOLD: NOW BIG FLUCTUATION WOULD BE WITNESSED IN PRICES (23-09-2013) Due to unprecedented upheaval witnessed in gold prices during last week, bullion analysts across the world are surprised. For the month up to Wednesday’s close at $1,307.60 an ounce, gold futures had given back all of the 6.3% gain gold scored in August as expectations for so-called tapering of the Fed’s quantitative-easing program grew. Then the Fed announced its surprise—it maintained its bond purchase program—and gold surged, The December contract rallied by 4.7% on Thursday, i.e. by $61.70 and quoted at $1369.30. Such a big jump has been registered first time since 19th March, 2009. This was the third biggest rally within a day in the history of Comex division of the New York Mercantile Exchange. To continue reading log on to commnewspreviews
Posted on: Mon, 23 Sep 2013 02:59:56 +0000
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