Spreadex Market Update
European bourses opened calmly today
In addition, the buying in equities on the back of tapering not happening in the next FOMC decision is also causing Gold to drift around five-week highs. Clearly investors are concerned that the continuing use of quantitative easing to help support the U.S. economy will increase the rate of inflation and as a result diminish the value of cash. Interestingly however, the key buyer of Gold at the moment is India. Thus, whether the surge is a result of inflationary fears, or festivals like Diwali and Dhanteras occurring in November which typically spur Gold buying, is unclear.
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