Gold powers to all-time high as Zoellick calls for new system

first_img Gold powers to all-time high as Zoellick calls for new system Share Monday 8 November 2010 9:06 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBrilliant TravelerNever Take A Stone That Has Been Placed On A Grave! Here’s WhyBrilliant TravelerUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMoneyWise.comMechanics Say You Should Avoid These Cars In 2021  MoneyWise.comUndoCrawl Space RepairFoundation Repair Cost In Scottsdale May Surprise YouCrawl Space RepairUndoArticles VallyThese Women Have Inspired A Lot Of Women WorldwideArticles VallyUndoFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUndoStuff AnsweredBest Meal Delivery for SeniorsStuff AnsweredUndo GOLD powered to an all-time high above $1,400 (£868) an ounce yesterday, despite a bounce in the dollar, as investors sought an inflation hedge from the Federal Reserve’s massive bond-buying programme. Gold has risen almost six per cent since just before the Federal Reserve detailed its plans last Wednesday to buy $600bn worth of Treasuries to revive the economy.Underlying support helped lift the metal after comments from World Bank president Robert Zoellick in the Financial Times calling for leading economies to consider readopting a modified global gold standard to guide currency movements, although most analysts deemed it unrealistic.Zoellick called for a system that “is likely to need to involve the dollar, the euro, the yen, the pound and (yuan) that moves towards internationalisation and then an open capital account.”“Gold could potentially play a small role in the overall framework, but I don’t think we are in a position to go back to a gold standard,” said commodities strategist Nic Brown of Natixis. Analysts also said that the gold market is too small to absorb such demand. whatsappcenter_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes KCS-content Show Comments ▼ whatsapp Tags: NULLlast_img

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