By Ross Norman of Sharps Pixley | Friday 20 September 2013
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The U.S. Fed delivered a surprise gift to the markets by staying put on its QE bond purchases. The daily settlement time for the U.S. Comex gold futures ended before the Fed announcements on Wednesday, and so the gold futures jumped 4.73 percent on Thursday to $1,369.50 while the spot gold price jumped 4.06 percent on Wednesday and 0.18 percent on Thursday.
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