ECONOMYNEXT – Gold and silver prices surged and some base metals also showed signs of moving as market responded to the Federal Reserve rate cuts and halting of deflationary policy. Gold hit 4,475 to the ounce, up from 20 dollars when the Fed was created. The Fed through so-called full-employment policies broke the gold standard in 1971, improved policy in the 1980s and 1990s, but started to print money from 2001 after macro-economists called for reflation. RELATED : US Fed cuts rates to 3.75-4.0-pct band, halts quantity tightening The Fed is now operating a so-called abundant reserve regime, involving a…
Gold, silver price surge after Fed halted quantity tightening
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