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- Gold again trading closely around USD1,200
Gold again trading closely around USD1,200
Gold, currently trading below the key-level of USD1200.00 a troy ounce is trading little changed but still lower on Monday. The stronger greenback supported by a stronger U.S. economy and speculations about the FED increasing the benchmark interest rates weigh on gold as it makes the metal more expensive for holders of other currencies. On the other hand stimulus policies from China and Europe are supporting gold prices. The sudden decision of China to lower their rates, which increased the likelihood of increased demand from the world's biggest consumer of the metal let the precious metal climb over USD1200 for the first time in 3 weeks on Friday.
GOLD currently trading below USD1,200.00
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