We objectively analyze gold market and try to answer the following questions: Where are the gold prices heading? What are the top gold stocks to invest in?
In addition you will find currency market news and analysis that affect precious metal prices, discussions whether gold is a good investment, and how to invest in this market. Please review site Terms Of Use and Disclaimer regarding investing. To share is to gain; all contents are complimentary.
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Fed announces the amount of quantitative easing is $600B at the rate of about $75B/month. The new money will be used to purchase longer-term Treasurys by the end of June. The interest rates will be kept to near-zero and will stay for "extended period."
Vote was 10 to 1. The opponent, Fed's Thomas Hoenig saying the risks of the purchases outweigh the benefits.
Most analysts were predicting a $500B QE2 recently, a drop from previous estimates. Gold spot price fell just before the meeting to $1,330 an ounce and is currently trading in that level.
