Gold price back on solid ground as it claws back losses
Lowered expectations of a big rate cut pushed bullion down 1% on Friday, but geopolitical tensions are still propping up prices
Gold steadied on Monday, having slid 1% in the previous session on lowered expectations of a big interest rate cut by the US Federal Reserve, but the metal’s overall momentum remained supported by global geopolitical uncertainties.
Spot gold was slightly higher at $1,425.53 an ounce as of 11.38am GMT, having touched $1,448 on Friday for its highest since May 2013. Though prices then dropped by more than 1% gold was still up 0.7% over the week...