Gold Rises on ECB Plan to Bolster Bank Lending, Erasing Drop of Up to 0.5%

Gold rebounded after the European Central Bank was said to be planning to announce a range of measures to bolster lending.

Gold futures for February delivery rose $8.80, or 0.5 percent, to $1,740.60 an ounce at 8:42 a.m. on the Comex in New York, Earlier, the metal dropped as much as 0.5 percent.

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