Gold price traded sideways

Market news

4 March 2015

Gold price traded sideways

Gold prices traded sideways on Wednesday. Spot gold was at $1,203.70 a troy ounce in morning European trade.

The U.S. labour market data on Friday might provide the further direction of gold price.

The Reserve Bank of India's cut of its interest rate supported gold price on Wednesday. The central bank lowered its lending rate to commercial banks by 25 basis points to 7.5%. That was the second cut this year.

European stock markets mid session: stocks traded mixed after the mixed economic data from the Eurozone

Eurozone’s retail sales climb 1.1% in January

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