Zimpapers Logo

Spot gold rose 0,2 percent to $1 462,10 per ounce by 0740 GMT. US gold futures rose 0,1 percent to $1 466,50. The US Fed will meet on December 10-12 for an interest rate decision. Last week’s booming jobs report was likely to give the central bank all it needs to stick to its plan not to cut rates further in the near future. Gold has gained about 14 percent this year after the Fed cut rates three times this year on the backdrop of a long-drawn trade war and its impact on economy.

Meanwhile, White House economic adviser Larry Kudlow has said the December 15 deadline is still in place for a new round of US tariffs on about $156 billion worth of Chinese imports. “Markets are waiting to size up what happens. They’re waiting both for the Fed meeting and some sort of last minute (US-China) deal,” said Ilya Spivak, a senior currency strategist at DailyFx. — Reuters.