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Tuesday, April 24, 2012

Gold prices wait fed speech april 25 2012

Gold prices wait fed speech april 25 2012, gold prediction 25/4/2012, spot gold forecast, impact fed statement on gold prices , Gold held around $1,641 per ounce on Wednesday, underpinned by stronger equities, but investors were also looking for hints of another round of quantitative easing when the U.S. Federal Reserve ends its two-day meeting.

The Fed is due to release a statement outlining its views on policy and the economy at about 1630 GMT, followed by a news conference by Fed Chairman Ben Bernanke, who is likely to be peppered with questions on the chances of more easing

Previous rounds of asset purchases by the Fed weakened the dollar and boosted U.S. and global stocks. The central bank is expected to reiterate its intent to keep benchmark U.S. interest rates near zero over the next two years, which could burnish gold's safe-haven appeal.

Bullion struck a 2012 high around $1,790 in late February after the Fed at the time said it would keep interest rates near zero until at least by the end of 2014.

Gold had hardly moved at $1,641.81 per ounce by 0248 GMT, having risen as high as $1,648.91 on Tuesday as the Dow and the S&P 500 jumped after strong earnings and upbeat outlooks from big manufacturers.

I don't think they will announce the QE3, but Bernanke's speech may offer some hints. We don't know, but we can see that other nations have already cut interest rates,I think $1,650 or $1,655 will be the cap for the time being. We can see the downside at $1,625."

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