Gold Rebounds on ECB, Fed Rate Cut Hopes

Gold Rebounds on ECB, Fed Rate Cut Hopes

12 Sep 2019 10:45 AM
 
U.S. gold futures returned above the key $1,500 level. Futures December delivery settled up $4, or 0.3% at $1,503.20 per ounce on the Comex division of the New York Mercantile Exchange. On Tuesday, December contract hit a near one-month low of 1,494.45. Spot gold, reflective of trades in bullion, remained under $1,500, although it bounced up $11.73, or 0.8%, to $1,497.06. On Tuesday, bullion sank to an Aug. 13 low of $1,486.59. Gold got a bid as traders awaited the outcome of the ECB policy meeting on Thursday.