Gold Rises Above $1230 On China Measures

Gold futures were higher Monday morning after China’s central bank cut the reserve-ratio requirement for banks in an effort to jump start their slowing economy.

Gold for April was up $12 at $1232 an ounce, having bounced around that mark for the past few weeks.

Prices touched a yearly high above $1260 early in February before pulling back as stocks rallied.

At 10 am ET, the National Association of Realtors is scheduled to release its U.S. pending home sales report for January.

At week’s end markets will get the February jobs report, which could go a long way in determing whether the Fed soon raises interest rates.

The material has been provided by InstaForex Company – www.instaforex.com