Epicresearch
Asha Soni
Gold holds near 5-month highs after US Fed hint at QE:
Gold steadied around five-month highs on Monday, drawing strength from last week's indication by the head of the US Federal Reserve that the central bank could act to shore up growth and by evidence of a strong pick-up in investor demand.
The gold price rose for a third successive month in August, with a gain of 4.8 per cent, the largest onemonth increase in price since January, lifted in large part by expectation for the Fed to signal that it could initiate another multi-trillion programme of bond buying to keep interest rates low.
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Gold steadied around five-month highs on Monday, drawing strength from last week's indication by the head of the US Federal Reserve that the central bank could act to shore up growth and by evidence of a strong pick-up in investor demand.
The gold price rose for a third successive month in August, with a gain of 4.8 per cent, the largest onemonth increase in price since January, lifted in large part by expectation for the Fed to signal that it could initiate another multi-trillion programme of bond buying to keep interest rates low.
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