The Fed Stimulus Clear Cut, Gold Prices Soaring
The price of gold futures jumped as much as U.S. $ 59 and beyond the settlement price (settlement price) at closing time Wednesday New York.
It was, as quoted from page Market Watch, Thursday, September 19, 2013, came after the Federal Reserve said it would not cut its monetary stimulus for the current economy.
In electronic trading, gold for December delivery rose as much as U.S. $ 59.30 or 4.5 per cent at U.S. $ 1,366.90 per ounce.
Before the announcement of the Fed, the settlement price Wednesday, gold for December delivery fell $ 1.80 or 0.1 percent to U.S. $ 1,307.60 an ounce on the Comex division of the New York Mercantile Exchange.
Sebeluimnya jsempat prices slid to around U.S. $ 1,300 per ounce, which is a six-week lows last seen. However, the price quickly reversed direction (higher) after the Fed said it would delay purchase of some assets decline.
"The rise in gold prices, however should be seen as a mere short-term gains rather than long-term investment," said James West, consultant Midas Letter Opportunity Fund's portfolio in the comment through his research.
Meanwhile, domestically reported, the price of gold in Processing and Refining Business Unit Precious Metals PT Antam Tbk, today, come back stronger than trade Wednesday, September 18, 2013.
Antam sold price of gold bullion 1 gram Rp549.000 for size, or down Rp24.000 compared Rp525.000 in trading yesterday.
As for the size of 5 grams of gold is now removed at Rp2.600.000, size 10 grams Rp5.150.000, 25 grams Rp12.800.000 size, and size 50 grams Rp25.550.000. Gold price 250 gram size is now sold at a price and the price for the size Rp127.500.000 500 grams is Rp254.800.000.
Repurchase price (buy-back) Antam's gold today rose and set on the previous Rp479.000 Rp464.000 per gram.