Gold prices rise as the Fed announced the start of a ‘massive’ bond buying program

New York (Oct 14)  Gold futures rose Monday, looking to post their first gain in three sessions, finding support as the so-called “phase one” of the U.S.-China trade deal reportedly hit a snag and after the U.S. Federal Reserve announced last week that it will start expanding its balance sheet next week.

“The focus on Friday was on the China-U.S. trade deal, which appears to be in limbo pending further talks,” Peter Spina, president and chief executive of GoldSeek.com, told MarketWatch.

Wariness over the strength of an agreement hammered out between the U.S. and China last week was growing on Monday after a report that Beijing will insist on more talks with the U.S. before signing any such deal.

MarketWatch