Old Project Avalon Forum (ARCHIVE) - View Single Post - GOOD NEWS??? Bernanke says recession 'very likely over' LOL

peaceandlove · 09-18-2009, 09:09 AM

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Sept. 15, 2009

Gold at record high AFTER Bernanke says recession is over

NEW YORK (MarketWatch) -- Gold futures climbed back above the $1,000-an-ounce mark to finish at a new record on Tuesday, after upbeat U.S. economic reports and as Federal Reserve Chairman Ben Bernanke said the recession is likely over.

However, he and other Fed officials reiterated views that unemployment will remain high and that the economy stay weak well into next year, fueling expectations that the central bank will continue to provide ample liquidity.

The front-month September gold contract ended up $5.10, or 0.5%, at $1,005.0 an ounce on the Comex division of the New York Mercantile Exchange. This marks the highest settlement for a nearby gold contract. The more active December contract rose $5.20, or 0.5%, to finish at $1,006.30 an ounce.

"Gold is continuing to knock on the $1,000-an-ounce door without making a concerted effort either way to test resistance or support," analysts at Goldcore said in a note.

Continues: http://www.marketwatch.com/story/gol...ows-2009-09-15

09-18-2009, 09:09 AM	#17
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL ??????? Sept. 15, 2009 Gold at record high AFTER Bernanke says recession is over NEW YORK (MarketWatch) -- Gold futures climbed back above the $1,000-an-ounce mark to finish at a new record on Tuesday, after upbeat U.S. economic reports and as Federal Reserve Chairman Ben Bernanke said the recession is likely over. However, he and other Fed officials reiterated views that unemployment will remain high and that the economy stay weak well into next year, fueling expectations that the central bank will continue to provide ample liquidity. The front-month September gold contract ended up $5.10, or 0.5%, at $1,005.0 an ounce on the Comex division of the New York Mercantile Exchange. This marks the highest settlement for a nearby gold contract. The more active December contract rose $5.20, or 0.5%, to finish at $1,006.30 an ounce. "Gold is continuing to knock on the $1,000-an-ounce door without making a concerted effort either way to test resistance or support," analysts at Goldcore said in a note. Continues: http://www.marketwatch.com/story/gol...ows-2009-09-15 Last edited by peaceandlove; 09-18-2009 at 11:47 AM.