Physical Gold Responds to Gold Hitting Two Week High on Hopes US Stimulus Will Stay

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Leading UK gold dealer, Physical Gold, has responded to gold hitting its highest in two weeks following weak US economic data.

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Gold has benefited from unstable stocks and US macro data being inconsistent enough to raise questions about how fast the Federal Reserve will reduce its stimulus programme.

Gold climbed to a two week high on Friday as weak US economic data eased fears that the US Federal Reserve would scale back its bond-buying programme.

A rise in gold-backed exchanged-traded fund holdings for the first time in three weeks also helped support gold.

In physical gold’s second straight week of gains, spot gold rose 0.2% Friday morning to reach $1,416.66 an ounce.

Gold has benefited from unstable stocks and US macro data being inconsistent enough to raise questions about how fast the Federal Reserve will reduce its stimulus programme.

A spokesperson from Physical Gold said:

“With US economic recovery being more disappointing than expected, there are thoughts that the US Federal Reserve will not be scaling back their stimulus programme as soon as expected. This in turn, has supported gold investment, a well know hedge against inflation.”

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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