From FMX Connect
October Gold settled at $1272.50 per 100 troy ounces on Tuesday, a net loss of of $6.60 for the day. After-hours activity was a different story entirely with a sharp rally after the FOMC minutes triggering an intense rally and prices as high as $1285.
October gold was up $19.10 to $1291.80 per 100 troy ounces as of 7:50 AM EST, this morning. The December U.S. dollar index was down .643 to 80.03. October platinum was up $18.60 to $1634.70 per 50 troy ounces. December silver was up 46.5 cents to $21.10.
Bloomberg (Reported 9/22/2010)
“Gold climbed to a record in London and New York after the Federal Reserve said it was willing to ease monetary policy further to boost the U.S. economy, triggering a slump in the dollar.
The dollar declined as much as 1 percent against the euro today, after the Federal Open Market Committee said yesterday in its statement that it’s “prepared to provide additional accommodation if needed to support the economic recovery.” Silver reached the highest price since March 2008 and platinum hit a four-month high.” Gold Climbs to Record as Dollar Weakens Following Fed Statement
NS Futures (Reported 9/22/2010)
“The gold market has apparently been cheered by developments over the last 24 hours, as gold has jumped to fresh new highs off a number of different developments In addition to higher yields than were seen in a prior Portugal government debt auction, the gold trade also seemed to be cheered by a fresh new low in the Dollar, talk of additional quantitative easing, and perhaps even uncertainty in the US Administration.
equity markets in Asia were mixed overnight, stock markets in Europe are
generally weaker this morning. U.S. stock indices have traded
moderately lower during the early Wednesday trade.” Daily Metals Commentary
Reuters (Reported 9/22/2010)
“Gold rose for a third day on Wednesday to hit record highs above $1,290 an ounce after the Federal Reserve's signal that it was prepared to pump fresh cash into the economy hurt the dollar and whet investor appetite for bullion.
Silver edged ever-closer to its highest in thirty years, against a backdrop of investors seeking cheaper safe-haven assets, which was reflected in the largest one-day inflow of metal into the iShares Silver Trust in 10 months.” Gold bursts to record high after Fed rates nod