Gold prices rise as the Fed starts a 'massive' bond buying program

 Marketwatch--"Gold prices rose Monday, looking to post their first gain in three sessions, finding support as the so-called 'phase one' of the U.S.-China trade deal reportedly hit a snag and after the U.S. Federal Reserve announced last week that it will start expanding its balance sheet next week. 'The focus on Friday was on the China-U.S. trade deal, which appears to be in limbo pending further talks,' Peter Spina, president and chief executive of GoldSeek.com, told MarketWatch. Wariness over the strength of an agreement hammered out between the U.S. and China last week was growing on Monday after a report that Beijing will insist on more talks with the U.S. before signing any such deal. As big as the trade talks news was on Friday, it was 'a giant distraction from the real news,' said Spina. 'In a very quiet and sneaky way, the Federal Reserve announced the start of a massive bond buying program.' The Fed, in a surprise announcement, set in motion a plan Friday to ease unexpected strains seen in short-term money markets last month....Despite the size of the bond buying program, 'the Fed does not wish for us to refer to it as quantitative easing or QE4,' said Spina. 'Yet, this is exactly what the Fed is doing but due to the timing and enormity of the program.'"