QE2 Is No Let Down, Gold Surging Higher

Gold is responding as expected to the new U.S. round of quantitative easing. Surely Japan’s more aggressive announcement this morning is support the rise in the value of the metal as well.

Note the spike at 8 AM ET. The UK said no to more QE as did the ECB, but nevertheless gold prices soared.

However, jobless claims came in weak, so that might have inspired the new spike.

Gold 114

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