Gold Rises After Four Drops in Last Five Sessions

Wednesday morning gold rose 0.6 percent to reach $1,266.85 an ounce, according to Reuters. Similarly, US gold futures for April delivery rose 0.6 percent to $1,267.40 an ounce. That positive price movement followed four drops in the last five trading sessions.

It also came amidst a fall in European stocks and as China’s central bank made a move to keep its economy stable by making additional money available for lending. By cutting bank reserves, China hopes to invigorate its slowly growing economy. China is a significant consumer of gold, and economic growth in the country stimulates demand.