Gold prices up on China stimulus pledge

Gold prices extended gains on Tuesday, supported by China’s commitment to ramp up policy stimulus to bolster economic growth. Investors are also anticipating US inflation data for clues on the Federal Reserve’s interest rate trajectory.

Spot gold prices increased at 7:14 AM GMT by 0.29 per cent to $2,668.10 per ounce, compared to the previous closing price of $2,660.39.

Meanwhile, US gold futures rose 0.23 per cent to $2,691.96, compared to Monday’s closing of $2,685.8.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama