Gold is hovering near its highest price level in four months due to safe haven demand on concerns about global economic growth and the unresolved euro debt crisis.
The possibility of Ben Bernanke and Mario Draghi announcing further money printing and monetary easing is also supporting gold. The US Fed chairman speaks this Friday and may or may not choose Friday to announce QE3. However with a Fed meeting set for September, it is unclear when further stimulus measures will be announced. Continue reading