Masress : Gold hits 6-1/2 month high after central bank easing

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Gold hits 6-1/2 month high after central bank easing

Reuters Published in Ahram Online on 23 - 09 - 2012

Gold prices rose above $1,780 an ounce for the first time since late February on Friday as expectations that easier monetary policy would boost liquidity, keep long-term interest rates low and stoke inflation fuelled buying of the precious metal.
Spot gold was up 0.7 per cent at $1,780.16 an ounce by mid-Friday, having earlier touched a high of $1,781.00 an ounce. U.S. gold futures for December delivery were up $12.20 an ounce at $1,782.40.

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