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Gold Edges Higher On ECB Optimism

Gold held firm above $1,250 an ounce Monday, buoyed by the European Central Bank’s decision to unveil fresh stimulus measures. Meanwhile, U.S. jobs data released Friday disappointed some market expectations for a more robust reading.

Rallies in equities markets will likely curb the metal’s appeal as an investment hedge.

Spot gold was trading higher at $1,254.49 up 0.27 percent or 3.39 points compared with a session opening at $1,252.99. Gold so far hit a session high at $1,255.40.

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