President Obama Inaugurated - Precious Metals To See Similar Returns As First Year Of Presidency?
January 22, 2013 - 12:22pm
Gold edged up and Tokyo gold hit a record multiyear high after the Bank of Japan announced a bold, some would say reckless, $117 billion ‘stimulus’ program as expected. The BOJ’ package included doubling its inflation target to 2% and making an open-ended commitment to asset purchases from next year. This open ended policy surprised some that expected a small rise in the BOJ's $1.1 trillion asset-buying and lending program. On Wednesday, there is a scheduled vote in the U.S. Congress proposed by Republicans on the U.S. borrowing limit. India increased its import tax on gold ores and dore bars from 2% to 5%, following a tax hike on bullion yesterday, as the government tries to decrease its spiralling current account deficit. Global head of commodities research at Standard Chartered, said at a briefing in Seoul today that Standard Chartered are bullish on gold. They beli...
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