Gold arrests slide made after EU rescue deal

On Monday, Gold cut early losses of near 2 percent amid expectations a $1 trillion aid package aimed at alleviating the euro zone’s debt crisis could cement easier monetary policy, and potentially spark inflation.

The press release is quoted as saying:

Spot gold was bid at $1,198.35 an ounce at 1320 GMT (9:20 a.m. EDT), against $1,207.75 late in New York on Friday. U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange fell $11.30 to $1,199.00 an ounce.

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