GOLD SPIKES, STOCKS SURGE TO 5-YEAR HIGHS

stocks

The Federal Reserve just concluded its Federal Open Market Committee meeting, announced open-ended quantitative easing, and boosted its U.S. economic outlook.

Markets were flat before the announcement, but now they’re up.

The S&P 500 is at levels that haven’t been seen since early 2008.  CNBC noted that the Dow is at levels we haven’t seen since December 2007.

Treasuries are selling off, which means interest rates are up.

Meanwhile, gold is spiking.  It’s at around $1,770 per ounce.  Minutes before the announcement, gold tumbled to around $1,720.

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