Gold bounces back after BOJ easing to hit 6-1/2 month high

Gold shook off early losses to hit its highest level in 6-1/2 months on Wednesday after Japan joined the United States and Europe in mounting more stimulus measures to boost its economy, raising gold’s appeal as a hedge against inflation.

The Bank of Japan increased its asset buying and loan programme, currently its key monetary easing tool, by 10 trillion yen (US$127 billion) to 80 trillion yen with the increment aimed at purchases of government bonds and treasury discount bills.

via Business feed http://www.scmp.com/business/commodities/article/1040638/gold-bounces-back-after-boj-easing-hit-6-12-month-high