Gold steadies to near lifetime high

Gold held steady this morning, hovering near a lifetime high around US$1,778 an ounce struck in the previous session, but further gains could be capped by a rebound in equities after the U.S. Federal Reserve's vow to keep rates near zero.

10 August 2011, 12:00am

1 min read

Stocks bounced in Asia after U.S. shares jumped on the Federal Reserve's unprecedented pledge to keep interest rates near zero for at least two years, although the move confirmed fears the U.S. economy will remain weak for far longer than previously forecast. <.T>

Gold added US$6.91 to US$1,750.31 an ounce in early trading, having hit a record at US$1,778.29 yesterday, in its biggest three-day rally since the financial crisis in late 2008 after equities plunged on fears over the threat to economic growth from the U.S. and euro debt crises.

Premiums for gold bars remained steady in Singapore and Hong Kong, while dealers in Tokyo were offering excess gold bars to trading houses in Southeast Asia after record bullion prices triggered selling in Japan.

Gold bars were quoted at a discount of 25 cents in Tokyo.

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What have I been telling you for a long time? . Didn't I and others tell you to ask why so many companies want your old gold? . Hold on to your gold and everything precious because the € and the US$ are going to be worthless. . Bette get out of the eu and euro and back to our Malta Lira befotre the system collapses and buries us under its rubble.