Gold futures staged an about-face to move higher in thinly traded after-hours screen trading after the Fed’s new plan to buy $300bn of government debt pressured the dollar and rekindled longer-term inflation concerns, reports the WSJ. Nearby March gold futures were down $27.70 to $888.70 an ounce on the Comex division of the New York Mercantile Exchange on Wednesday. But in electronic trading two hours after gold’s official close, the April contract had reversed and traded at $940.10, a rise of 5.7% from the session’s close.

This entry was posted by Gwen Robinson on Thursday, March 19th, 2009 at 4:42 and is filed under Capital markets, Commodities. Edit this entry.