Gold has started at higher prices for the 4th straight day, coming close to a 5 week high. Today is that start of the Fed two-day policy meeting in which it is expected that the Fed will announce continuing the buying of bonds at a rate of $85 billion per month. The weaker than expected economic data coming out from the United States (partly as a result of the US government shutdown) will surely confirm this. Obamacare will weigh heavily on the US economy for at least the next few quarters. Our belief is that when/if the tapering starts in 2014, it will be minimal and is already priced into the market.
Gold coming close to a 5 week high
Tuesday, October 29, 2013 11:02:00 AM America/Toronto
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