Gold prices edged higher on Monday as expectations of monetary policy easing by ...
- Gold prices edged higher on Monday as expectations of monetary policy easing by major central banks gathered momentum amid soft economic data, although an uptick in equities limited gains in the precious metal.
“The renewed global risk appetite has spurred some weakness in safe-haven assets,” said Phillip Futures analyst Benjamin Lu.Global equity markets received a lift after China’s central bank said on Friday it was reducing how much cash banks must hold in reserve, releasing liquidity to shore up an economy slowed by the Sino-U.S. trade conflict.
Powell’s comments and a mixed U.S. employment report firmed market expectations that the Fed would cut interest rates at its meeting later this month.
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