Gold Futures Top $1,290 an Ounce on Globex

September 22nd, 2010

Via: MarketWatch:

Gold futures climbed to new heights above $1,290 an ounce on Globex during Asia’s morning trading Wednesday with investment demand on the rise after the U.S. Federal Reserve said it was worried about deflation and was prepared to consider more action to boost the economy.

Gold for December delivery touched a high of $1,290.90 in electronic trading on Globex during morning trading in Tokyo. It was last up $15.40, or 1.2%, at $1,289.70.

Bullion had traded around $1,273 an ounce on Globex before the Fed announcement in Washington.

More: Fed’s Concern Over Inflation Broadens Rationale for More Easing

Posted in Economy | Top Of Page

One Response to “Gold Futures Top $1,290 an Ounce on Globex”

  1. shoe2one says:
    September 24, 2010 at 12:56 am

    I am perplexed, again.

    “Gold futures soared to new record Wednesday, fueled by fears of deflation after the Federal Reserve signaled it may inject more cash into the financial system to support the U.S. recovery.”

    Is that a misprint? The word “deflation” I mean?

    161 pips on the EURUSD in about 1 hour.

Leave a Reply

You must be logged in to post a comment.