Home / TIPS / MTECHTIPS:-Gold prices gain in Asia on continued easy global monetary policies

MTECHTIPS:-Gold prices gain in Asia on continued easy global monetary policies

MTECHTIPS:-Gold prices gain in Asia on continued easy global monetary policies

Gold prices rose in Asia on Friday as investors looked ahead to continued easy global monetary policies. On the Comex division of the New York Mercantile Exchange, gold for December delivery rose 0.24% to $1,168.80 a troy ounce. Silver for December delivery gained 0.37% to $15.895 a troy ounce. Copper for December delivery inched up 0.05% to $2.384 a pound. Overnight, c Gold futures were relatively flat on Thursday in spite of a surging dollar, after European Central Bank president Mario Draghi rattled global markets with strong hints that the bank is ready to lower interest rates and extend the scope of its comprehensive quantitative easing program. Speaking at a press conference following the completion of a two-day meeting in Malta, Draghi signaled that the ECB is prepared to cut interest rates in the euro zone from their current record-low of 0.5%. Draghi also implied that the ECB will likely ramp up its EUR 60 billion a month bond buying program, as early as its policy meeting in Frankfurt on Dec. 3.

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