Gold prices were flat on Tuesday, after declining more than 1% in the previous s...
- Gold prices were flat on Tuesday, after declining more than 1% in the previous session hit by an uptick in risk appetite, while investors awaited meetings by policy-makers later in the week for clues on possible interest rate cuts.Spot gold was stable at $1,495.21 per ounce at 0438 GMT.
Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, boosting riskier assets and taking the sheen off safe-havens such as bonds and gold. Meanwhile, the U.S. dollar held near a three-week high as an improvement in appetite for riskier assets lifted yields on U.S. government bonds.
However, Boston Federal Reserve Bank President Eric Rosengren on Monday signalled no willingness to support further interest rate cuts, saying that U.S. economic conditions are still good and that easing policy could encourage a worrying debt build-up.
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