Gold Snaps Five-Day Losing Streak Amid Fed Stimulus Speculation
This article is for subscribers only.
Gold advanced, snapping a five-day losing run, on speculation that the U.S. central bank may prolong stimulus in the world’s largest economy amid a weaker-than-expected recovery.
Spot gold gained as much as 0.3 percent to $1,609.25 an ounce and was at $1,607.40 at 2:03 p.m. in Singapore before the release later today of minutes from the Federal Reserve’s latest policy meeting. The price dropped to $1,598.23 on Feb. 15, the lowest since Aug. 15. Bullion for April delivery rose 0.2 percent to $1,606.70 an ounce on the Comex as the dollar fell.