Gold gains on central banks' stimulus efforts to boost growth

NEW YORK: Gold today gained on speculation central banks' moves to bolster economic growth will spur demand for the metal as a protection of wealth.

The precious metal rose by 0.3 per cent to USD 1,781 an ounce and silver by 0.4 per cent to USD 34.80 an ounce.

Gold climbed in September as the Federal Reserve announced a third round of quantitative easing, the European Central Bank pledged to buy more debt and the Bank of Japan added to an asset-purchase fund.

The Labor Department will release the latest US employment figures on October 5. Markets in China are closed this week for the National Day holiday.