Goliath Resources stock surges on drill results at Golddigger property in BC’s Golden Triangle
The Golddigger property spans 666 square kilometres and is strategically positioned within the Golden Triangle’s Eskay Rift.
Gold suffered a third day of selling on Wednesday dropping more than $17 to a 6-week low of $1,3291.50 an ounce over rising fears about US economic stimulus.
In midday-trade, just hours before the expected tapering of the Federal Reserves quantitative easing program was due to be announced, the gold price recovered somewhat to $1,298 an ounce.
The gold price seemed to have turned a corner in August, briefly exiting a bear market as it fought back from near 3-year lows, but those gains have now been mostly wiped out.
The US Federal Reserve meeting ends Wednesday at 2:30 EST and consensus is that the Chairman Ben Bernanke will announce a relatively modest $10 billion reduction in the bank’s asset purchases program currently running at $85 billion a month.
The gold price has increased nearly 60% since QE1 was announced in December 2008 when the ruling price was $837 an ounce, but the metal has retreated some $380 in 2013.
2 Comments
RBF
$1,3291.50
??????
Someone needs to proofread this.
JH
same ole. Gold drops and Frik is front and center – gold rises and Frik becomes the Invisible man.
There really is no valid reason to write about the minutiae of each decrease, and then write nothing about a $55 rise.
I can think of one reason. I just hope its not valid.