Are You Buying or Selling the Gold Bounce?

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Gold edged up on Thursday after the European Central Bank cut its main interest rate cut by 25 basis points to a record low of 0.50 percent.

Lower interest rates should favor gold as they encourage investors to put money into non-interest-bearing assets like the metal.

Spot gold rose to a session high of $1,473.40 an ounce after the rate decision and was last 0.9 percent higher at $1,469 per ounce.

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