Gold bumped higher by Japanese stimulus commitment

Image

Gold edged higher in Tuesday trading following the Bank of Japan’s announcement that it would pursue heftier stimulus measures to boost the country’s stagnant economy.

BOJ indicated that it would commit itself to open-ended purchase of assets starting in 2014, as part of efforts to raise inflation to 2%

Bullion saw its second day of gains on the news, with spot prices rising 0.1% by 3.29 p.m. EST to hit USD$1,691.24. February gold futures – the most actively traded gold contract – closed up $6.20 at $1,693.20.

Gold still failed to break through the $1,700 threshold, with reports from India that the government had raised its import tax on the precious metal from 4% to 6% mitigating the positive news for gold bugs from Japan.

from MINING.com – A Mine of Information by Marc Howe

http://www.MissionMining.com 

Advertisements

About Mission Mining

US Gold and Silver Mining - Our Nevada & California mining properties are anticipated to hold extremely large precious metals resources. The Company has posted over $400 Million in Assets in its OTC Filings. Come join us!
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s