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FSN: Gold and Silver Prices Jump as Bad Jobs Data Puts QE3 Back on the Agenda for Next Week
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Peter Cooper, Arabian Money
Gold Seek
The price of gold jumped to $1,733 and silver to $33.50 an ounce on news of worse than expected US job figures. The US economy added 96,000 workers last month following a revised 141,000 rise in July that was smaller than initially estimated.
This is thought to increase the probability of the Fed chairman launching another round of money printing or QE3 next week to boost the economy.
ECB money printing
Meanwhile a statement from the Bundesbank on the ECB’s new bond program commented that it was ‘tantamount to printing bank notes’, confirming the assumption that the German central bank was the only vote against the scheme announced yesterday.
Continue Reading at GoldSeek.com…
2012-09-07 12:36:37
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