By Nicholas Santiago on August 10th, 2010 3:10pm Eastern Time
The GLD spiked higher after the FOMC announcement this afternoon. The spike in the GLD came after the Federal Reserve Bank said that they would leave rates unchanged and remain accommodative. This means that the U.S. central bank is likely too continue to print more money and flood the system with liquidity. The GLD will have intra-day resistance around the $118.50 level.
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