Plus   Neg

Gold Prices Rise In Cautious Trade

Gold prices inched higher on Wednesday to snap a four-day losing streak as investors awaited key central bank policy announcements, including the European Central Bank on Thursday and the U.S. Federal Reserve next week.

Spot gold rose half a percent to $1,492.69 per ounce, after hitting its lowest level since Aug. 13 at $1,483.90 the previous day. U.S. gold futures were up 0.1 percent at $1,500.25 an ounce.

Analysts are split over what to expect from the European Central Bank (ECB) on Thursday, while the Federal Reserve is expected to cut interest rates once again when it meets next week.

On the trade front, there are signs of a thaw in relations between the United States and China.

Ahead of talks scheduled for next month, China announced that it would exempt 16 American-made products from tariffs as a sign of goodwill.

The list included varieties of animal feed such as alfalfa and fish meal, cancer drugs gefitinib and capecitabine, base oil for lubricants and lubricating grease, and some farm chemicals.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT