Gold Firms on Improved Risk Appetite
Gold rebounded from a unsuccessful challenge of the 1698.90 low from earlier in the week, leaving a potential double bottom 1700.77/1698.90. The yellow metal caught a bid after a modestly better than expected
Most of the Q3 GDP gain is attributable to a dramatic rise in government spending, the highest in 3-years. However, disturbingly weak fixed investments in Q3, along with some of the internals in yesterday's Oct durable goods report, suggest a downward revision to Q3 GDP is more likely than not.
The headline GDP print was just good enough to be encouraging, but probably not good enough to get the Fed to refrain from relaunching direct Treasury purchases ahead of year-end. Bloomberg reported earlier in the week that all 21 primary dealers believe the Fed will expand QE3 to include renewed bond buying. And the FOMC reiterated this week that "a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens."
Essentially nothing has changed this week. The economy remains sluggish and the Fed is still poking at it, trying to get it to show some life, with uber-accommodative monetary policy that may be further expanded in the near term. That will continue to underpin the gold market.
Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.
【獨特設計】Adidas x Blondey McCoy 聯名首度曝光！
Adidas x Blondey McCoy聯名是一個很特別的款，而Blondey McCoy這名模特在辭職後，就建立了屬於自己的品牌Thames，今年和愛迪達推出了...20 小時前
[台中染髮推薦] 絕不能錯過的驚豔女神款~髮廊指南~設計師推薦! 最火爆的染髮顏色！
想要美一波看過來！ 都說變美要從“頭”開始，每次看到這些漂亮姐姐們的神仙髮色，都按捺不住我蠢蠢欲動想要換髮色的心...13 小時前
小編近日在看Timberland Nellie 休閒防水靴的時候發現了一雙與眾不同的鞋子，雖然它也被列為經典款，但卻和經典款有很大的不同！ ...22 小時前