Gold lifts after hitting two-week low earlier

Gold bars are seen at the Kazakhstan's National Bank vault in Almaty, Kazakhstan. File Picture: REUTERS/MARIYA GORDEYEVAGold prices gained on Monday, crawling away from a two-week low touched in the previous session, supported by hopes of monetary policy easing by major central banks although the metal's advance was capped by improved appetite for riskier assets.

Risk sentiment was also lifted on Friday after China said it would slash the amount of cash that banks must hold as reserves, while US Federal Reserve chair Jerome Powell said the central bank would continue to “act as appropriate” to sustain economic expansion. “With the ECB and Fed primed to further ease monetary conditions this month, it is unlikely gold will dip below $1,500/oz in the short-term,” Howie Lee, economist at OCBC Bank said in a note.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold edges higher but risk-on sentiment caps gainsExpectations of monetary policy easing by major central banks gather momentum amid soft economic data, though an uptick in equities limits rise in the precious metal
Source: BDliveSA - 🏆 12. / 63 Read more »

Malibu High School set to amend hair policy after pupils humiliated | Weekend ArgusDisciplinary action against pupils was also provisionally withdrawn earlier this week, while the department is investigating ...
Source: IOL - 🏆 46. / 51 Read more »

Pinetown siblings laid to restThe children, aged between four and sixteen, were murdered earlier in the week.
Source: eNCA - 🏆 49. / 51 Read more »

Gauteng man's body found buried under rubble two weeks after fatal car crash | Sunday TribuneTyrone Lessing's lifeless body was found buried under rubble near the accident scene, two weeks later.
Source: IOL - 🏆 46. / 51 Read more »

Missing girl‚ 11‚ found murderedThe body of 11-year-old who was reported missing earlier this week has been found outside the farming town of Groblersdal in Limpopo over the weekend‚ police said.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Missing girl, 11, found murderedThe body of 11-year-old who was reported missing earlier this week has been found outside the farming town of Groblersdal in Limpopo over the weekend, police said.
Source: TimesLIVE - 🏆 28. / 59 Read more »