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  • 950 Silverado Street La Jolla, CA 92037    •    1 (858) 412-6462
    Section 1
    ALL GOLD & SILVER PRODUCTS IN STOCK!!!

    There Will Be QE: Why Gold Will Gain From This Week’s Fed Meeting

    It’s modest, but gold’s 2% gain in October has given gold-bugs some hope.

    With data regarding the government shutdown set to roll in, as well as  Fed meeting this week, gold could begin to shine again.

    This would be a long overdue price increase for goldbugs.

    As the Fed plans to meet, the dollar index has steadied. Gains in gold likely if the Fed delays stimulus tapering.

    Five week highs in gold continues into the last week of October on growing confidence that the Federal Reserve will not taper.

    The Federal Reserve begins a two-day meeting Tuesday and it is widely expected that the central bank will keep with bond-buying in the range of $85 billion per month. Most analysts claim the central bank won’t stop stimulating the economy until March 2014.

    Spot gold was up just 0.13 percent, reaching $1,354.04 in New York. The intra-day high of $1,361 is the highest gold price since September 20.

    The government shutdown is anticipated to have hurt the macroecomomics data in October.

    “October data is going to be a lot weaker than expected, so because of that gold prices are continuing to rise,” said Phillip Streible, senior commodities broker at RJ O’Brien in Chicago.

    Until gold breaks through $1,400, the metal runs the risk of dropping below $1,300 once more. But, with that said, if gold breaks up to the upside, a price target of $1,450 would be reasonable.

    Over the past year, gold bullion has dropped nearly 20 percent. Investors have dumped gold holdings for equities.  Over the past two weeks, gold has gained six percent.

    “What we’re seeing now is a subtle shift in underlying technical and psychological sentiment for this market,” said Adam Sarhan, chief executive of Sarhan Capital.

    World Spot Prices
    (Updates Every 30 Seconds)
    -3.86

    Gold

    Bid: $1,490.80
    Ask: $1,491.80
    -0.09

    Silver

    Bid: $17.62
    Ask: $17.72
    -1.84

    Platinum

    Bid: $896.56
    Ask: $901.56