Gold rises after China cuts banks reserves ratio

Gold turned positive after China's central bank cut the reserve requirement ratio for its banks for the first time in nearly three years.

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Gold turned positive on Wednesday after China's central bank cut the reserve requirement ratio for its banks for the first time in nearly three years.

Spot gold cut earlier losses and rose 0.2 percent to $1,719.55 per ounce by 13:17 SA time, from $1,714.29 late in New York on Tuesday. - Reuters

Source: http://www.iol.co.za/gold-rises-after-china-cuts-banks-reserves-ratio-1.1189617

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