FLASH GAGE- European Central Bank Pres. Comments Give Gold A Little Hand

Flash Gage - News Headlines that Impact precious metals as they happen.

As we monitor all news from around the world, today we are watching live the press conference of ECB President Mario Draghi. Here are the headlines:

The European Central Bank announced this morning no change in their benchmark interest rate. Right after the news, gold caught a bid and the selloff of the yellow metal stalled.

ECB President Mario Draghi said he would continue his asset-buying program. He seems to be hedging himself, giving the impression he’s not sure on future economic conditions in the European community. He said there are so many geopolitical issues facing many countries in the EU.

This is a sharp contrast to what’s happening here in the states.

His comments seemed to have strengthened the Euro and weakened the dollar temporarily. He says his goal is to strengthen the Euro and make it more resilient versus
other world currencies.

I expect after this press conference is over, the dollar will recover and so will the selloff in the precious metal markets.

Have a wonderful Thursday.

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