Gold & Silver Prices Today On Fire
Gold Silver Worlds | Sep 13, 2012 06:51PM ET
At the center of the stage today was the US Fed meeting and the announcement of their decisions by Mr Bernanke at 14h15 EST. Here is what came out of it in a nuthsell:
- A new round of quantitative easing was decided, with a key objective to decrease the unemployment rate in the US. Mr Bernanke said that “We’re looking for ongoing, sustained improvement in the labor market”. He calls the current unemployment rate of approximately 8% a “grave concern.”
- The monetary stimulus includes 40 billion US dollar per month of bond buying; that amount could be extended by an additional 40 billion per month if required to meet the objectives.
- Zero interest rate policy will be extended till 2015.
It seems like “QE to infinity”, a term that was introduced by the much respected Jim Sinclair, is for real. Jim Sinclair whose nickname is “Mr Gold”, has been recommended gold bullion partners .
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