Gold rises after SNB cuts rates

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Source: Investing.com
On Thursday gold traded at the highest levels amid Swiss National Bank cutting interest rates into negative territory. Gold might get a boost with lower interest rates, as relative gold cost is weaker and does not benefit the investors in payouts. Futures for Februarey gained $2.60 and traded at $1,237.10 per troy ounce, compared to a nearly three-month high of $1,244.60 the day earlier. The US Dollar slumped 12% versus the Swiss Franc and is considered to be beneficial for gold, as Dollar-priced commodities become cheaper for other currency holders.
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