Gold Climbs as Falling U.S. Wholesale Prices Curb Tapering Bets
Wholesale prices declined for a third month in November,
reflecting lower costs for energy and cars, a Labor Department
report showed today. Bullion surged 70 percent from the end of
2008 through June 2011 as the Fed bought debt and kept interest
rates near zero percent to boost economic growth amid the most-severe global recession since World War II.
“If you believe the government that inflation is non-existent, that should be enough to take the Fed tapering talk
off the table for good next week,” Peter Hug, the global
trading director of Kitco Metals Inc. in Montreal, said in an e-mailed report.
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