The Fed’s commitment to provide additional easing measures if needed triggered selloff in USD, hence pushed gold higher. The yellow metal, however, retreated after surging to a record high of 1292.4 on profit-taking and ended the day at 1274.3, down -0.51%. WTI crude oil initially jumped to 76.37 but gains were pared after a report showing rise in crude inventory. The November contract closed at 74.97, down -1.58%.
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Gold Higher as Fed Moves Closer to QE2
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