The gold price jumped in early Thursday sessions as it reacted to news from Japan and Sweden.
The spot gold price was last at $1,233.10 per ounce, a $13 increase on the previous day’s close.
“Gold has suddenly jumped from around $1,222 on what appears to be comments for the Bank of Japan that they see any extra stimulus as not being that effective,” said FastMarkets analyst William Adams. “Also, with the Swedish Central Bank cutting rates it suggests more widespread monetary easing
Sweden’s Riksbanken cuts interest rate by 10 basis points to -0.1 percent.
The other metals tracked gold higher, silver at $17.06 was up against the previous day’s $16.81. Platinum at $1,205 was up $11 and palladium increased $8 to $774.
The post Gold price jumps on BOJ news and Swedish rate cut appeared first on The Bullion Desk.
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