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Gold prices rose after the U.S. Federal Reserve decided to leave unchanged its program to buy bonds . A promise to continue to pursue a policy of "cheap money " has increased the demand for the precious metal.
As in other markets , the market for precious metals investors were waiting for the partial collapse of the program to purchase bonds worth 85 billion dollars a month.
In the first years after the financial crisis, many investors invest their money in gold on concerns over the fact that alternative program the Fed to stimulate the economy , known as quantitative easing , will lead to higher inflation . Investors who put their initials on the rise , believed that gold better than other assets retain their value in an inflationary environment.
However , inflation has not reached alarming levels , while the Fed's balance sheet exceeded 3 trillion dollars. Despite the observed immediately after the announcement of the Fed's decision on Wednesday, rising gold prices , it remains one of the assets , showed the worst results this year.
Some analysts believe that the Fed's decision until the collapse of bond purchases once again shifted the market's attention to inflation risks . Even many experts had expected the central bank to reduce the amount of programs to stimulate the economy. Other brokers prefer not to put a special meaning in the Fed's decision , saying that gold prices are likely to continue to decline.
The cost of the October gold futures on COMEX today rose to $ 1375.50 per ounce.
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