Gold edges higher after sharp fall on China rates

Reuters reports that on Wednesday, Gold price edged higher recovering from a 2.5 percent fall the previous day. The market reassessed a surprise rate hike by China.

The market news is quoted as saying:

China’s central bank raised rates for the first time in nearly three years, a move that could mark the start of a more aggressive phase of monetary tightening in the world’s fastest-growing major economy.

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