Gold price increased about $40 per ounce in 2 hours

On 13, September 2012, Gold price increased about $40/oz to a level around $1770/oz from around $1730/oz in less than 2 hour time as investors are motivated by The Federal Reserve plan to expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing (UE3).