Gold prices soar to 7.5-yr. high as Fed drops “atomic bomb”

Gold prices are trading sharply up and at a 7.5-year high near $1,750 in midday U.S. futures trading Wednesday, on safe-haven demand amid a global economy that has lurched into recession and possibly into depression. More scary U.S. economic data out today, as well a mammoth Federal Reserve stimulus package announced, are helping to boost the precious metals. June gold futures were last up $61.30 an ounce at $1,745.90. May Comex silver prices were last up $0.705 at $15.91 an ounce.

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