Petaquilla

Petaquilla Informs: boon for gold

After some profit-taking, the metal turned higher again after data showed consumer sentiment worsened in early September to its weakest in more than a year. Another report indicated little underlying US inflationary pressure.Gold surged to $1,282.75 an ounce in the European market on expectations that the US Federal Reserve, hoping to stave off double-dip recession, could announce more quantitative easing — usually a boon for gold.

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