Gold Sheds Overnight Losses Following BOE Rate Cut

London (Aug 4)  The Bank of England held its regular monetary policy meeting Thursday and cut its main interest rate by 0.25%, to 0.25%-- the first rate cut since March of 2009. The BOE also announced a corporate bond-buying program. Many had expected the BOE to announce monetary policy stimulus measures at this meeting. Gold prices shed some overnight losses on the BOE news, while U.S. Treasuries saw their prices rise a bit.

Source: KitcoNews