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Thursday, August 27, 2015, Bhadra 12, 1422 BS, Zilqad 11, 1436 Hijr


Gold down on China interest rate cut
Published :Thursday, 27 August, 2015,  Time : 12:00 AM  View Count : 21

CHICAGO, Aug 26: Gold futures went down on the COMEX division of the New York Mercantile Exchange Tuesday as China cut its banks' reserve requirement ratio (RRR) and lowered key interest rates, which helped to stabilize world equities.
The most active gold contract for December delivery fell 15.3 U.S. dollars, or 1.33 per cent, to settle at 1,138.30 dollars per ounce.
Gold was put under pressure as U.S. and world equities rose Tuesday after the People's Bank of China cut interest rates by 0.25 points to 4.6 per cent. This move stabilized U.S. and world equities, giving investors the confidence to move away from gold as a safe haven.    ?Xinhua










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