Gold retains gains, firm above $1,200 on China rate cut

Gold traded firmly above $1,200 an ounce on Monday, retaining gains from the previous session on hopes that a surprise rate cut in China would boost demand for bullion in the top consumer. Spot gold was steady at $1,202.20 an ounce by 0028 GMT, after gaining 0.6 percent on Friday. Gold got a boost from short-covering after China cut interest rates unexpectedly on Friday, stepping...

Asian Stocks Rise Second Day as China Rate Cut Boosts Optimism

Asian stocks rose for a second day after U.S. indexes reached another record as Chinas unexpected interest-rate cut stoked optimism in the global economy. The MSCI Asia Pacific excluding Japan Index climbed 0.5 percent to 475.75 as of 9:02 a.m. in Seoul. China reduced interest rates last week, joining the European Central Bank and the Bank of Japan in deploying fresh stimulus....