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GoldCore Update: US Interest Rates to Remain Exremely Low for an Extended Period of Time

Thu, Nov 5 2009, 14:02 GMT
by GoldCore Bullion Services Team

GoldCore


Gold fed low interest rates
Gold dipped slightly overnight but found support at $1,084/oz in the early hours of this morning. It has since recovered and is currently trading at $1,090 /oz. In EUR and GBP terms gold is trading at €735/oz and £659/oz respectively. The US Federal Reserve has signaled that a return to higher interest rates will not be based solely on economic recovery, but dependant also on an increase in inflation and a recovery in the employment market. They remain committed to keeping interest rates “extremely low for an extended period of time”. Meanwhile all eyes and ears will be focused on the Bank of England’s Monetary Policy Committee meeting announcement today as well as the ECB rate setting announcement and subsequent press conference. Although no changes in interest rates are expected the rhetoric will be keenly analysed for any signals of their future intentions.

Silver
Silver is currently trading at $17.39/oz, €11.72/oz and £10.52/oz.

Platinum Group Metals
Platinum is trading at $1,355/oz and rhodium at $2,000/oz. Palladium is currently trading at $329/oz.

Published on  Thu, Nov 5 2009, 14:05 GMT


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Gold and Silver Investments Limited  | 63 Fitzwilliam Square, Dublin 2, Ireland
http://www.goldcore.com | info@goldcore.com

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The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors’ interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. Gold and Silver Investments Limited, trading as Gold Investments is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

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