Gold Recorded the Highest Settlement Price as Moody's Cut Ireland. FOMC Signals Higher Chance of QE3?
BonTradeDespite an initial pullback, gold resumed its rally in the NY session as sovereign crisis in the Eurozone remained worrisome and the FOMC minutes indicated some members would favor further stimulus should growth slow further. The benchmark Comex contract surged to as high as 1574.3, just 3 dollars below the all-time high of 1577.4, before settling at 1562.3, up +0.85% and the highest settlement price on record.
