"The Fed's commitment to maintaining liquidity and its deteriorating growth outlook are broadly speaking bullish for gold," said Standard Bank analyst Leon Westgate. Gold is often seen as a stronger store of value than equities and other commodities in times of economic uncertainty, and the metal gained ground after the Federal Open Market Committee on Tuesday said the economic recovery "has slowed in recent months" and the "pace of economic recovery is likely to be more modest in the near term than had been anticipated."" Read more.
Wall Street Journal, August 11, 2010.
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