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The market has gained some footing and momentum off of the policy report from yesterday. Gold has regained some positive momentum as well. Gold price per ounce is on the rise again. Yesterday’s move by the Federal Reserve to initiate increased economic support to push the recovery forward is still being processed and analyzed by many, but investors are thinking positively right now. Stocks surged through mid-day and the surge continued through end of day close. Today was a huge day for stock action and the index values closed the day out at 2-year highs. The expectation is that, due to the Federal Reserve’s move to initiate further quantitative easing, interest rates will remain low for the long term and spending will increase. Also, the republican take over is viewed as more business friendly. Through mid-day trading today, the dollar had fallen against the euro, the British pound and the Japanese yen. As expected, gold swung in a positive direction as gold for December delivery surged to $1,378.70 an ounce. This trending continued through end of day close. The dollar showed this same pattern at end of day close for November 4th, 2010 and Gold moved ahead further. Gold for december delivery price per ounce settled up $45.50 or 3.4% to a record of $1,383.10. Author: Camillo Zucari
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