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Dec 12, 2012
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Gold prices edge higher ahead of Fed meeting
GOLD rose on Tuesday as European stocks hit 18-month highs and the euro strengthened, but gains were limited ahead of a US Federal Reserve meeting where policymakers were expected to announce more potentially bullion-supportive stimulus plans. Many economists expected the Fed to announce monthly bond purchases of $45b after its meeting on Tuesday and Wednesday. Gold benefits from an easy monetary policy as investors fear that repeated cash printing will damage the value of currencies, prompting them to seek safety in hard assets such as bullion.
Source -
http://www.bdlive.co.za
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