World Central Banks’ Monetary Easing Policies Supports Gold Prices

CNBC reported hovered around a 6 and a half month high, down 0.1% to $1,769.90 an ounce, supported by monetary stimulus by the world’s major Central Banks and the U.S. Federal Reserve.

As quoted in the press release:

Turnover in U.S. gold futures was heavy after crude oil slid around 4 percent and the Bank of Japan earlier in the day joined other major central banks in easing monetary policy with a new round of asset buying.

Stephen Platt, analyst at futures brokerage Archer Financial Services, commented:

Amid the crude oil break, gold is holding on to a tight range. The metal is torn by an easier U.S. money policy and some caution about when the ECB is going to turn on the monetary spigot with its bond purchases.

Click here to read the full CNBC report.