Gold futures ended higher Wednesday as downbeat economic data fed expectations for easier monetary policies by major central banks, a day ahead of a meeting of the European Central Bank.
Europe's central bank on Thursday is expected to lay the groundwork for an interest-rate cut, while the U.S. Federal Reserve is seen cutting key interest rates next week.
August gold on Comex gained $1.90, or 0.1%, to settle at $1,423.60 an ounce, though prices ended the session well below the session’s high of $1,430. Prices declined by 0.4% on Tuesday.
In other metals dealings, September silver extended its climb to its highest level in more than a year, rising 15 cents, or 0.9%, to $16.626 an ounce—tallying its eighth gain in nine sessions. It settled at its highest since June 14, 2018, according to FactSet data.
Source : MarketWatch