Gold Price Jumps Near USD1240 As ECB Hints At Further Support

London (Apr 7)  Gold prices rose Thursday morning amid renewed risk aversion and signs that central banks will continue to try and jump start their respective economies.

 European Central Bank  policy makers didn't rule out further rate cuts at their policy meeting last month, according to minutes released today.

Yesterday's dovish  Federal Reserve  minutes also helped gold's rally.

A number of Fed officials argued against an April rate hike thinking this would signal a sense of urgency they did not think appropriate.

Meanwhile, stock futures indicate a negative start on  Wall Street  , lifting gold's safe haven appeal.

Gold for June was up  USD14  at  USD1238  an ounce, having bounced around  USD1230  for the past few weeks.

Source: RTTnews