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prettynpink

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Tuesday, 02/10/2009 9:24:30 AM

Tuesday, February 10, 2009 9:24:30 AM

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Gold rises on speculation stimulus may boost inflation

By Moming Zhou
Last update: 8:30 a.m. EST Feb. 10, 2009Comments: 12
NEW YORK (MarketWatch) -- Gold futures rose Tuesday back above $900 an ounce on speculation that the $838 billion U.S. stimulus plan may boost inflation, increasing the metal's appeal as a hedge against rising prices. "Even more pertinent is the real risk that while it [the stimulus plan] may be another short term panacea, it will likely lead to significant inflation or stagflation in the coming months," said Mark O'Byrne, executive director at Gold and Silver Investment. Gold for February delivery was last up $15.40, or 1.7%, at $907.80 an ounce in early North America electronic trading. Gold rises on speculation stimulus may boost inflation

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