Gold prices extended gains on Tuesday, buoyed by China's pledge to ramp up policy stimulus as investors await U.S. inflation data for clues into Fed rate path.
Gold bar replicas are displayed at the Prospectors and Developers Association of Canada annual conference in Toronto, Ontario, Canada March 7, 2023.Gold prices extended gains on Tuesday, buoyed by top consumer China 's pledge to ramp up policy stimulus to help spur economic growth, with investors awaiting U.S. inflation data for further insights into the
The country will also adopt "appropriately loose monetary policy" next year, alongside a more proactive fiscal policy to spur economic growth, the Politburo was quoted as saying. "Secondly, the safe haven demand narrative has resurfaced as China has started a probe into the U.S. AI juggernaut Nvidia over an alleged violation of anti-monopoly law, suggesting more tit-for-tat measures may arise between the U.S. and China."
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