Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Gold Prices Hold At 11-Week High

February 3, 2012 by  

Gold Prices Hold At 11-Week High

The price of gold held near 11-week high levels as the metal benefited from investor expectations that U.S. monetary policy will remain ultra-loose boosted traders’ appetite for the safe-haven metal, Reuters reported.

According to the new outlet, a pledge by the U.S. Federal Reserve in January to keep interest rates at rock-bottom levels and several hints of more monetary easing has helped the precious metal. These moves by the Fed would help to keep the dollar weak and the opportunity cost of holding gold bullion low, as the commodity has risen 12.5 percent this year.

Federal Reserve Chairman Ben Bernanke defended the actions by the bank, noting the U.S. economy still needs support.

“Yesterday’s reaffirmation from the U.S. Fed (chairman) that he is committed to keep rates low… (has) given gold the necessary boost to hold gains and also break key resistance,” Pradeep Unni, senior analyst from Richcomm Global Services, told Reuters.

Bloomberg reported that gold held near the $1,760 an ounce mark, and analysts at Bank of America Merrill Lynch noted that bullion may reach $2,000 an ounce by the fourth quarter of FY2012.

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “Gold Prices Hold At 11-Week High”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.