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'Fed's move causes another rally on gold stocks' gold stocks

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Fed's move causes another rally on gold stocks

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03/28/09 06:47

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Fed's move causes another rally on gold stocks

Gold stocks such as Randgold Resources, IamGold Corp, and Barrick Gold Corp. stocks all moved higher after reaction by investors to the Fed's announcement that the US Central Bank would purchase $300 billion in long term Treasuries to curb the slide in the US economy.~~

This move caused the dollar to drop sharply, once again bringing investors to harbour in gold.

The move from the Fed is designed to make it cheaper to borrow money and essentially doubled the dollars the bank has poured into stimulating the economy.

Link: Investerms.com - Gold Stocks Rally on Fed's Move (GOLD, IAG, ABX)

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