Gold Logs a Modest Gain As Bank Of England Rolls Out Stimulus

By Markets MarketWatch Pulse

Gold futures end moderately higher Thursday, following the Bank of England's decision to cut interest rates for the first time since 2009 and unveil a batch of measures aimed at stimulating the country's economy in the wake of the U.K. vote to exit the European Union. December gold rose $2.70, or 0.2%, to close at $1,367.40 an ounce. The BOE's rate cut, and easing measures unfurled by the Bank of Japan earlier in the week, are being viewed as supportive to the long-term outlook for gold prices.

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