Markets: QE bullion boost

Local gold stocks surged after the latest Fed QE reassurance lifted the price of bullion from recent lows.

Gold miners such as Perseus Mining and Evolution Mining were the biggest gainers among all S&P/ASX 200 Index stocks today after the spot price of gold rose 2 per cent. The rise came as the Federal Reserve boosted the price of bullion by saying it will continue to buy $US85 billion a month worth of mortgage backed and Treasury securities.


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