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Gold and Dow futures bounced after Fed announces unlimited QE

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The Federal Reserve has announced unlimited purchases of US Treasuries and agency mortgage-backed securities and set up additional lending tools to shore up struggling companies and financial markets.

After the FED announcement, the Dow futures have shot up 1400 points so far.

Gold price surged above $1500 after the Fed announced its unlimited QE package. The yellow metal currently trading above $1515 and the next important levels to watch $1530 and $1500.

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