Gold Surges as China Eases Lending Rates
Gold for August delivery at the COMEX division of the New York Mercantile Exchange was surging $28.40 to $1,321.30 an ounce. The gold price traded as high as $1,325 and as low as $1,297.40 an ounce, while the spot price was adding $9.42.
The People's Bank of China removed control of interest rates on loans offered by the nation's financial institutions.
"Seems like anybody can go out and get smaller denominated loans, and what that's going to do is that's going to start pumping some money back into the
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