Gold futures fell to their lowest in a week Thursday, as stocks rallied despite dramatic testimony from former FBI director James Comey, who accused President Donald Trump of lying and defaming him.
With risk appetite picking up, gold for August was down $13.70, or 1.1%, to settle at $1,279.50/oz.
European Central Bank left its benchmark interest rate unchanged earlier this morning.
The ECB said interest rates are expected to remain at their present levels for an extended period of time but dropped any reference to a future rate cut. They also announced a downward revision to its inflation projections.
Inflation will only rise moderately, “supported by our monetary policy measures, the continuing economic expansion and the corresponding gradual absorption of economic slack,” ECB President Mario Draghi said.
The material has been provided by InstaForex Company – www.instaforex.com
June 08, 2017 at 11:27PM
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