MTECHTIPS:-Gold prices gain in Asia as investors eye easier global monetary policy

MTECHTIPS:-Gold prices gain in Asia as investors eye easier global monetary policy

Gold rose in Asia on Monday as expectations of easier global monetary policies filtered through markets. Gold for February delivery on the Comex division of the New York Mercantile Exchange rose 0.47% to $1,101.50 a troy ounce. Also on the Comex, silver futures for March delivery gained 0.13% to $14.095 a troy ounce. Elsewhere in metals trading, copper for March delivery eased up 0.46% to $1.994 a pound. In the week ahead, investors will be looking to Wednesday’s Federal Reserve policy statement for any indication that the bank is considering slowing the path of interest rate increases this year. Last week, gold prices inched lower on Friday, as sharp gains in global equity markets and a broadly stronger U.S. dollar dampened the appeal of the yellow metal. Expectations of fresh central bank stimulus in Europe and Japan bolstered sentiment in global financial markets on Friday. Global stocks strengthened after major declines since the start of the year and oil prices rebounded 10%, one of the largest daily rallies ever. Despite Friday’s losses, gold prices rose $7.40, or 0.52%, on the week. Prices of the precious metal are almost 4% so far this year as many investors sought refuge from turmoil in global equity markets.

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