Gold Gains on Central Bank Stimulus

Bloomberg reported that gold futures inched higher for the second time this week as speculation that actions by global central banks to boost economic growth. Gold futures for December settled at $1,779.80 per ounce.

As quoted in the market news:

Bullion advanced 5.1 percent last month as the Federal Reserve announced a third round of stimulus as the jobless rate held above 8 percent for a 43rd month in August. The European Central Bank also pledged to buy more debt in September, and the Bank of Japan (8301) added to an asset-purchase fund. The U.S. Labor Department will release the latest employment figures on Oct. 5.

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