Gold Jumps 3.1% on Week as Silver Soars 7.1%, US Bullion Coins SolidSubmitted by emalvini on Sat, 09/08/2012 - 18:42
Gold Jumps 3.1% on Week as Silver Soars 7.1%, US Bullion Coins Solid
by COINNEWS.NET on SEPTEMBER 8, 2012
Gold, silver and other precious metals soared this week. US bullion coins were strong as well.
Gold rallied to a more than six-month high at above $1,740 an ounce after Friday’s disappointing U.S. jobs report fueled Fed stimulus bets. Jumping 2.0% on the day, gold prices spurred ahead 3.1% on the week.
"Gold is going through the roof because this negative data makes QE3 more likely now," Reuters quoted Daniel Briesemann, commodities analyst at Commerzbank in Frankfurt.