Gold rose in London for a second day after the Federal Reserve’s stimulus boosted demand for metals. Platinum advanced.
The Federal Open Market Committee said it will “await more evidence” for sustained economic recovery before reducing its $85 billion in monthly stimulus, according to a statement yesterday. Gold slid 18 percent this year on speculation that the Fed would taper support programs that helped the precious metal cap a 12-year bull run in 2012. Bullion rallied yesterday as the Standard & Poor’s 500 Index of equities rose to a record.
via Bloomberg
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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