Bullionguru’s,”Gold climbs after dovish ECB stance”

© Reuters. Gold prices spiked overnight in Asia after the European Central Bank stayed pat on stimulus.

Gold powered up to three-week highs overnight in Asia before flattening out during morning trade.

The catalyst for the spike was a unanimous decision by the European Central Bank not to change their guidance on monetary policy or discuss changes to an ongoing stimulus program for the time being. The dovish stance was not out of tune with the tone taken by the US federal Reserve.


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