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IPFS News Link • Economy - Economics USA

Gold climbs to all-time highs above US$1,400/oz


NEW YORK/LONDON – Gold powered to an all-time high above US$1,400 an ounce Monday, despite a bounce in the dollar, as investors sought an inflation hedge from the Federal Reserve’s massive bond-buying program.

Gold has risen almost 6% since just before the Federal Reserve detailed its plans last Wednesday to buy $600-billion worth of Treasuries to revive the economy.


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