Gold edges higher

Gold edged higher yesterday crawling away from a two-week low touched in the previous session, supported by hopes of monetary policy easing by major central banks. Spot gold was up 0,2 percent at $1,509.01 per ounce.

The metal touched $1,502.50 on Friday, a level last seen on August 23. US gold futures were up 0,1 percent at $1,517.40 an ounce.

“Gold has been retreating because of risk appetite returning to the market, so the concerns (over US-China trade ties and global growth) seem to be subdued,” Commerzbank analyst Eugen Weinberg said. — Reuters.

Source :

The Herald

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