Gold Rallies to New High
BonTradeDespite conflicting implications on the economic outlook, the series of events happened yesterday was bullish for gold which surged to a record high of 1586.9 before settling at 1585.5, up +1.49% (the contract advanced further to 1590.8 in Asian session today). Market sentiment was buoyed as investors viewed Fed Chairman Ben Bernanke's testimony before the House as a signal for further stimulus measures. Wall Street gained with the DJIA and the S&P 500 Index rising +0.36% and +0.31%, respectively.
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Gold Rallies to New High
