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Gold Prices Edge Up in Seesaw Session (Update 1)

The Fed's implementation of an open-ended QE3 has heightened discussions of inflation in the United States.

Bond investors on Monday bumped a key measure of inflation expectations to its highest level since 2006, according to The Financial Times, as the "break-even rate" jumped as high as 2.73%, based on the difference between nominal and inflation-protected Treasury debt.

Though soaring inflation is still a speculative call, this indicator is expected to influence the gold price over the long-term.

Gold mining stocks were mixed Tuesday. Shares of Eldorado Gold (EGO) were shedding 1.3%, while Gold Fields (GFI) was posting gains of 4.1%.

Among other mining stocks, Kinross Gold (KGC - Get Report) was up 0.10%, as Barrick Gold (ABX - Get Report) pulled back 0.26%.

Gold ETFs were rising Tuesday as SPDR Gold Trust (GLD) increased 0.67% and iShares Gold Trust (IAU) rose 0.70%.

-- Written by Joe Deaux in New York.

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SYM TRADE IT LAST %CHG
ABX $12.76 0.00%
GOLD $74.65 0.00%
GLD $115.60 0.00%
KGC $2.28 0.00%
NG $3.67 0.00%

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