Gold jumps in Asia on easy liquidity views

Gold jumps in Asia on easy liquidity views

On Friday, gold rallied moderately in Asia because traders digested a triple load of major bank view from the Federal Reserve, BoE and ECB, which pointed to ongoing easy liquidity.

February delivery gold futures soared 0.02% in New York being worth $1,257.40 a troy ounce.

Overnight, the number one precious metal traded close to session maximums, neglecting a rebound in the evergreen buck as the European Central Bank told it would keep pursuing its ultra-accommodative monetary policy measures.

On Thursday, the ECB left its benchmark rate intact, repeating its firm commitment to running an asset-purchase stimulus program until next September.

On Wednesday, gold managed to reverse a two-day drop versus the backdrop of a widely anticipated Fed rate lift and an intact outlook on the path of monetary policy tightening, including up to three rate hikes expected next year.

Meanwhile, silver futures added 0.45% hitting $15.94 a troy ounce, platinum futures tacked on  0.80% being worth $882.40.

 

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