Gold Ends Higher Ahead Of Jobs Data


09/02/2014 09:36 AST

Gold futures rallied to end higher for a second straight session Thursday, with investors anxiously awaiting the crucial jobs data for January due tomorrow. Nonetheless, the gains were marginal after some upbeat economic data from the U.S. dulled the appeal for the precious metal, with the European Central Bank and the Bank of England maintaining the status quo on interest rates and quantitative easing.

The European Central Bank on Thursday left its main lending rate unchanged at 0.25%, in line with expectations. The ECB indicated continuation of its low interest rates, terming the economic recovery as uneven and fragile. As well, the Bank of England left its bond-buying program unchanged while holding on to its key lending rate at a record low of 0.5%.

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