by David Brough
(Reuters) – Gold rose on Thursday, after a drop to seven-week lows the previous day, with a rising euro and prospects of further monetary stimulus lending support to prices.
Spot gold was up 0.8 percent at $1,714.34 an ounce at 1451 GMT, bouncing off Wednesday’s seven-week low of $1,698.39. U.S. gold futures for December delivery were up $13.70 an ounce at $1,715.30.
Bullion rallied steadily to an 11-month peak above $1,795 an ounce in early October, with the U.S. Federal Reserve’s latest program of purchasing mortgage-backed debt fuelling investment in the metal.