Wednesday, July 13, 2011

QE3 talk pushes gold to nominal record -July-13-2011--


QE3 talk pushes gold to nominal record
July-13-2011--Gold surged to a new record on Wednesday, propelled by the possibility of a third round of quantitative easing in the US. The yellow metal, already rallying hard on the back of fiscal concerns in the eurozone, jumped to within 
reach of $1,600 a troy ounce after Ben Bernanke, Federal Reserve chairman, said the central bank could take further steps to prop up the US economy if needed. 
In testimony to Congress, Mr Bernanke said the Federal Reserve stood ready to provide “additional policy support” if the economy remained weak.
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