Gold gains after Evans comments on steps for economy

LONDON: Gold today rose after Federal Reserve Bank of Chicago President Charles Evans said the US central bank should keep steps to boost economic growth, boosting demand for the metal as an alternative to currencies.

Gold climbed 0.4 per cent to USD 1,668.59 an ounce and silver by 0.9 per cent to USD 30.74 an ounce.

Too much austerity too soon could be damaging to near- and medium-term growth, Evans said in Hong Kong today.