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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * QE3 rekindles gold as Fed targets jobs and growth, not inflation * Buy the rumor, hold on the fact as oil, copper nudge higher * CRB index nears bull market territory since June low By Jonathan Leff NEW YORK, Sept 13 (Reuters) – Major commodities including oil and copper rose on Thursday after the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14603","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14603"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* QE3 rekindles gold as Fed targets jobs and growth, not\ninflation\n * Buy the rumor, hold on the fact as oil, copper nudge\nhigher\n * CRB index nears bull market territory since June low\n\n\n By Jonathan Leff\n NEW YORK, Sept 13 (Reuters) - Major commodities including\noil and copper rose on Thursday after the Federal Reserve\nannounced its latest plan to revive the U.S. economy, while gold\njumped 2 percent, the biggest gainer from a move markets have\npriced in for weeks.\n Prices jumped immediately after the Fed said it had agreed\nto buy $40 billion of mortgage debt per month and keep\npurchasing assets until the jobs outlook improves substantially.\nFinancial markets had expected a third set of quantitative\neasing to get growth back on track. \n By day's end, gold had extended gains to nearly 2\npercent or $33.50, reaching its highest close since February at\n$1,764.50 an ounce. Other markets posted less robust gains.\n London copper rose just over 1 percent in post-close\ntrade while Brent crude oil rose 0.5 percent.\n Trading volume across the commodity futures markets was\namong the most active in months, with many traders waiting to\nhear from the Fed before taking post-summer positions. Gold\nfutures trade was nearly double its 30-day average, while U.S.\noil futures activity was nearly 40 percent more.\n Many commodity markets had already risen to multi-month\nhighs ahead of the new round of Fed bond buying, which investors\nexpect to eventually stoke growth, fuel inflation, weaken the\ndollar and attract more investment in riskier assets.\n The Thomson Reuters-Jefferies commodity index rose\n0.5 percent, rising for the sixth straight session, the longest\nstreak since February. The index is up 18.9 percent since a June\nlow, nearing bull market territory.\n The Fed's plan offered relatively few surprises, meeting\nexpectations for more bond buying and an extension of the\nultra-low interest rate pledge to mid-2015. The most significant\nshift was the committee's decision to tie the duration of its\nbond-buying program to economic conditions, rather than a finite\nsum.\n \"The idea is to quicken the recovery to help the economy\nbegin to grow quickly enough to generate new jobs and reduce the\nunemployment rate. So that is the criterion we are looking at,\"\nChairman Ben Bernanke told a press conference.\n Trading was volatile in the wake of the announcement. U.S.\nstock markets pushed higher as the news settled in, and the Dow\nJones industrials and SP 500 stock index closed more than 1.5\npercent higher. The U.S. dollar index fell.\n \n GOLD JUMPS 2 PERCENT \n Spot gold jumped 2 percent to $1,766.40 an ounce as\nof 1:58 p.m. EDT (1758 GMT) after hitting a high of $1,772.11,\nwithin striking distance of a 2012 high of $1,790, set Feb. 29.\n Gold is up 13 percent this year following a 10 percent rally\nsince the start of August as central banks around the world\nappeared more determined to take up further stimulus. For some\ngold bulls, who have struggled over the past 12 months as prices\nstalled, it was the start of new chapter in a decade-long rally.\n \"They (the Fed) are emphasizing the growth mandate, and that\nmeans they don't care about inflation other than giving lip\nservice to it,\" said Axel Merk, chief investment officer at Merk\nFunds, which has $600 million in currency mutual-fund assets.\n \"The price of gold will do very well in the years to come,\"\nMerk said.\n \n OIL WAVERS, THEN RISES \n Brent November crude, which becomes the prompt month\ncontract on Friday, rose 55 cents to settle at $115.88 a barrel.\nThe session high was $116.89, its highest since May.\n Crude has climbed steadily over the past week, bolstered by\nsupply concerns, unrest in oil producing countries and\nanticipation of Fed stimulus. Brent and U.S. crude have risen\ntoward technical levels that indicate they may be overbought.\n However gasoline prices fell more than 1 percent,\ndropping for a second day.\n \"People are unwinding positions because you have the end of\ndriving season, more refining capacity back on line after the\nstorm and last week supplies were up in the Northeast region,\"\nsaid Sal Umek, analyst at the Energy Management Institute in New\nYork. \n \n COPPER CHECKS RALLY PAST $8,000 \n London Metal Exchange (LME) three-month copper ended\ndown $21 at $8,075 a tonne prior to the Fed news, then rallied\nin after-hours business to $8,200.50, its highest since May 8.\nIt has risen more than 6 percent in the last five days.\n Since last Friday, copper has broken above the $7,800\nceiling that had contained previous rallies for months, and\nbroke out above $8,000 on optimism that demand for the metal\nwill rise due to $157 billion in infrastructure spending planned\nin top consumer China and fresh measures to tackle the euro zone\ndebt crisis.\n \"Copper still has the China factor, but we're still in a\nweak economic cycle. I wouldn't be buying things as related to\nany sudden optimism for industrial demand,\" said Bill O'Neill,\npartner of LOGIC Advisors in Upper Saddle River, New Jersey.\n\n Prices at 3:48 p.m. EST (1947 GMT) \n LAST\/ NET PCT YTD\n CLOSE CHG CHG CHG\n US crude 98.11 1.10 1.1% -0.7%\n Brent crude 116.88 0.92 0.8% 8.8%\n Natural gas 3.037 -0.026 -0.8% 1.6%\n \n US gold 1772.10 38.40 2.2% 13.1%\n Gold 1764.99 33.99 2.0% 12.9%\n US Copper 372.70 1.70 0.5% 8.5%\n LME Copper 8075.00 -21.00 -0.3% 6.3%\n Dollar 79.252 -0.485 -0.6% -1.2%\n CRB 317.450 1.750 0.6% 4.0%\n \n US corn 773.75 4.25 0.6% 19.7%\n US soybeans 1747.25 1.50 0.1% 45.8%\n US wheat 902.00 12.00 1.4% 38.2%\n \n US Coffee 178.85 1.35 0.8% -21.6%\n US Cocoa 2613.00 -18.00 -0.7% 23.9%\n US Sugar 19.71 -0.01 -0.1% -15.2%\n \n US silver 34.716 1.483 4.5% 24.4%\n US platinum 1678.50 29.90 1.8% 19.5%\n US palladium 688.50 9.70 1.4% 4.9%<\/pre>\n