Gold Prices Soar on Fed Signals |
| TheStreet.com - Aug 23, 2012 |
Gold prices were charging higher Thursday as investors feverishly bid up the yellow metal after the Federal Reserve hinted at growing support for additional stimulus "fairly soon."
Gold for December delivery was up $26.80 to $1,667.30 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,669.50 and as low as 1.654.50 an ounce, while the spot price was up $11.80, according to Kitco's gold index.
"We're finally starting to break some ranges ...we're getting obviously some real nice follow-through here," said Stanley Dash, vice president of applied technical analysis at TradeStation Securities. "I think the numbers to look at above the market are approximately $1,675 to about $1,682, that's really the next resistance zone I would keep an eye on."
Silver prices for September delivery were up 84 cents to $30.40 an ounce, while the U.S. dollar index was dipping 0.05% to $81.47.
Read Full Article from TheStreet.com
- Posted: 2012-08-23 11:59:24
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
