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Equityworld Futures : Gold Prices Dropped After The ECB Keep European Interest Rates Remained •

Equityworld Futures : Gold Prices Dropped After The ECB Keep European Interest Rates Remained

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Equityworld Futures-Gold prices dropped in late trading Friday on Wednesday (21/10) after the European Central Bank maintains rates unchanged and maintain the asset purchase scheme parameters € 1.74 billion ($ 1.95 trillion). The ECB has provided a tremendous stimulus in recent years in response to high unemployment, weak growth and inflation very low, by cutting interest rates into negative territory and pushing the cost of the credit to the lowest position.

Very low interest rates tend to support gold, although it is often offset by the impact of the weakening of the euro. The single currency is down 0.3 per cent against the U.S. dollar on Thursday. The price of spot gold LLG down 0.2 per cent at $ 1, 266.40 per ounce. On Wednesday, the precious metal has achieved the strongest since October 5, at $ 1, 273.34. U.S. gold futures prices down 0.1 percent and ended at $ 1, 267.50 per ounce.

Precious metals have regained some momentum after a technical closure on Wednesday above the moving average 200 days at $ 1267. U.S. Treasury prices rose after the ECB Head Mario Draghi said there was no discussion on the latest policy meeting of the bank on the possibility of changing the program purchase 1 trillion-plus euro bonds.

The euro is a little lower, but stocks rise after us presidential debate, which is the third and final votes do not increase voter expectations for Donald Trump. It can also overload the gold. A victory for Democratic candidate Hillary Clinton predicted by polls, and is seen as easing the way for a rise in interest rates, it is desirable by some Federal Reserve policy makers for the month of December.

Purchase foreign gold India likely reached a nine-month high in October to resume imports ahead of the festival season, industry officials told Reuters. Switzerland’s gold exports to China reached the highest since January last month, Switzerland’s customs data showed on Thursday, despite a sharp decline in shipments to Hong Kong means exports to the two combined are sharply lower than the previous year.

Silver is down 0.3 per cent on $ 17.59 per ounce. Platinum was down 1 percent at $ 935 per ounce and Palladium was 1 percent lower at $ 629.50 per ounce. Analyst Equity Research Center estimated the price of gold on the next trade potentially weak stressed the strengthening of the U.S. dollar and the rise of the sentiment of Hillary Clinton’s victory over Donald Trump in the debate of the U.S. presidential candidates.

The price is estimated to be moving in the range of $ 1.264 Support-$ 1.262, while if prices rise it will move in a range of Resistance $ 1.268-$ 1.270

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