Gold Advances on Outlook for Further Stimulus From Fed
This article is for subscribers only.
Gold rose for the third time in four sessions as prospects for more U.S. stimulus from the Federal Reserve spurred demand for the metal as a store of value.
The policy-setting Federal Open Market Committee may consider asset purchases at its two-day meeting staring tomorrow. Chairman Ben S. Bernanke signaled last month that a third round of so-called quantitative easing may be needed to reduce joblessness. Germany’s Federal Constitutional Court in Karlsruhe will decide tomorrow whether to halt the country’s participation in the 500 billion-euro ($640 billion) European Stability Mechanism, the euro area’s permanent bailout fund.