Gold up amid China stimulus, Fed rate expectations

Gold prices edged up on Monday as investors assessed China’s weekend stimulus announcement, while also focusing on US Federal Reserve officials’ comments for further rate cut cues.

Spot gold prices gained at 8:47 GMT by 0.07 per cent to $2,659.10 per ounce, compared to weekend’s closing price of $2,607.82. While, US gold futures dropped 0.02 per cent to $2,675.85, compared to Friday’s closing of $2,676.3.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama