LONDON, 3 February 2012 - Comment from world-leading online gold exchange BullionVault features in the latest precious-metals report from US finance and investment site MarketWatch.
"The big news remains last week's Fed promise of cheap-money-forever," MarketWatch quotes Adrian Ash, head of research at BullionVault in London. A sharp jump in prices came after Federal Reserve chairman Ben Bernanke vowed to keep US interest rates at 0% until mid-2014.
Before that move, "Gold [had been] getting little support from Asian buyers," as Adrian told MarketWatch last week.
"With China's markets closed for New Year and only light trading in Tokyo, volume [had] also tailed off so far this month in New York and London." But further ahead, Adrian forecast, "News flow out of Washington, Athens and Frankfurt [would] likely be positive for those sub-zero rates and credit-default risks underpinning gold's long-term rise to date."
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