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Mar 06, 2013
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Gold snaps 4-day fall on prospects of further easing
Gold prices rose on Tuesday, snapping four days of losses, as expectations that central banks would opt to maintain ultra-loose monetary policy this week helped push European stocks to a two-year high and weighed on the dollar. Successive rounds of quantitative easing and similar monetary stimulus measures have kept liquidity high and interest rates low in the United States, the euro zone and Japan in recent years, fuelling a rally in gold prices. Hopes that stimulus would continue were boosted by comments from Federal Reserve official Janet Yellen on Monday, as well as expectations new economic forecasts in the euro zone could open the way to looser policy from the European Central Bank (ECB).
Source -
http://economictimes.indiatimes.com
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