The Price of Gold

The price of gold today, August 8, 2012, is $1610.40 and climbing as worldwide economic concerns make quantitative easing by the Fed increasingly likely. Fedreal Reserve Board advisors, who are non-voting members, are vocally pushing for Fed intervention in the form of QE3. While it is unlikely that the fed will make a move prior to the election, the markets are climbing and holding based on anticipation of the Fed’s intervention.