Gold rises on expected economic stimulus

From reuters.com

Gold prices rose on Wednesday on expectations of monetary policy easing from leading central banks to shore up the global economy, though a stronger dollar curbed gains. Spot gold was up 0.7% at $1,426.40 an ounce at 1138 GMT but still short of last week’s peak at $1,452.60. U.S. gold futures rose 0.4% to $1,426.80. Continued strong investment interest and buying in gold, expectations of interest rate cuts, high geopolitical tensions regarding Iran and a gloomy global economic outlook are propping up gold prices today, said Commerzbank analyst Carsten Fritsch. The European Central Bank (ECB) is expected to signal ... (full story)