The Fed are widely expected to announce more quantitative easing in their upcoming meeting on December 10th and 11th.
"This would be an incredibly bullish result for all raw commodities especially gold and personally I believe it is highly likely that the Fed will begin QE4" - says Katrina Stoltz, a Senior Broker at Qualified FX.
She goes on to say "The fact that the European Central Bank has slashed its growth forecast for the European Union is very bullish for gold and here at Qualified FX we plan to take full advantage of the opportunity for profit ahead of us."
The news from the ECB helped the dollar index and new demand for safe-haven investments.
Disclosure: Katrina Stoltz and Qualified FX hold several call options in gold with various expiry dates.
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