Gold rises as Bank of England cut rate
05/08/2016 09:01
Gold futures closed higher in the international market on Thursday after the Bank of England announced a rate cut for the first time since 2009 and unveiled a batch of stimulus measures aimed at stimulating the country’s economy in the wake of the June 23 vote to exit the European Union. Although the rate cut was expected, the additional stimulus measures surprised the market, and providing a jolt to haven assets. This, coupled with easing measures from the Bank of Japan earlier in the week, are being viewed as supportive to the long-term outlook for gold prices.
05/08/2016 09:01
Gold futures closed higher in the international market on Thursday after the Bank of England announced a rate cut for the first time since 2009 and unveiled a batch of stimulus measures aimed at stimulating the country’s economy in the wake of the June 23 vote to exit the European Union. Although the rate cut was expected, the additional stimulus measures surprised the market, and providing a jolt to haven assets. This, coupled with easing measures from the Bank of Japan earlier in the week, are being viewed as supportive to the long-term outlook for gold prices.
