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On Thursday, gold dipped in European trade because traders waited for the outcome of the European Central Bank's gathering for fresh clues on when it’s going to start shifting away from its ultra-easy policy.
In New York, gold hit $1,238.68 a troy ounce losing 0.3%. On Wednesday, gold concluded a few cents higher, extending their streak of profits to a fourth session.
The ECB's fresh interest rate verdict isn’t supposed to offer big changes.
Traders will pay attention to President Mario Draghi's press conference because market participants need more clues on when and how the EU’s key financial institution could scale back its huge quantitative easing program.
Financial experts are assured that the key bank will probably wait until September before declaring a tapering of up to 60 billion euros of monthly asset purchases.
Apart from key banks traders will pay attention to American data due later in the trading session just to assess the strength of the world's leading economy and how it will affect the Fed's view on monetary policy.
On Thursday, gold declined notwithstanding a weakening evergreen buck in the face of ebbing trade fears, as market participants waited for economic data later in the trading session and also looked ahead to the Fed’s policy gathering next week…
On Monday, gold managed to surge due to the fact market participants questioned the greenback jump’s near-term durability…
On Friday, gold managed to rally due to the fact that American leader shockingly impacted market optimism generated by the probability of renewed trade negotiations between China and America…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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