“Some short-term institutional buyers have returned to gold as prices have been resilient at current levels,” Tai Wong, the director of commodity products trading at BMO Capital Markets Corp., said in the article. “Stimulus measures announced in various countries are bringing some investors to gold.”
For instance, the Bank of Japan will issue $855 billion in quantitative easing while the European Central Bank will raise assets by about half the 1 trillion in euros it is targeting, Bloomberg reports.
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Max Chen contributed to this article. Tom Lydon’s clients own shares of GLD.