Will Central Banks Stimulate Economy? Gold Bulls Hope So
Gold climbed today, following yesterday’s decline. The drop followed the three consecutive sessions of gains. Investors hope that central banks of developed nations would refer to stimulus for supporting economic growth and such hopes provide the precious metal strength.
The Bank of Japan has started the
The speculations about stimulating measures from central banks are bullish for gold. Decreasing interest rates and other forms of monetary easing usually weaken currencies. That may drive investors to precious metals in search of a safe haven.
Gold rallied from $1,610.04 to $1,612.43 per ounce on COMEX today, following the drop to $1,603.41.
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