Gold inches up as virus spread fuels rate cut bets

From uk.reuters.com

Gold prices inched up on Tuesday on increasing bets of an interest rate cut by global central banks to mitigate the economic impact from the fast-spreading coronavirus outbreak. FUNDAMENTALS * Spot gold was up 0.1% at $1,592.07 per ounce as of 0046 GMT. * U.S. gold futures was steady at $1,594.20 an ounce. * Traders on Monday piled into bets that the U.S. Federal Reserve will deliver a big dose of stimulus starting this month amid concerns over the economic impact and indications that global central banks are readying a monetary rescue. * The global economy is set to grow only 2.4% this year, the lowest since 2009, ... (full story)