Gold performance is still stuck in a narrow range of transactions on all transactions session Thursday, despite selling more dominant shades, after the European Central Bank said it will not consider adding gold purchases.
ECB President Mario Draghi insisted that he had discussions to buy a variety of assets, except Gold appropriate to reassess the stimulus plan in the next quarter. Comments Draghi dismissed the idea of Yves Mersch (ECB executive members) last month, which states that the ECB is “theoretically” could buy gold bullion.
Indeed, Gold has bounced up as much as 6.8% since hitting its lowest level in four years on 7 November, ie 1131.05 amid speculation that the lower the price of Gold will begin to attract investors as well as the Central Bank, to buy physical gold
However, demand for gold continued to contract in the hands of an impressive performance on stock markets and the US dollar and inflation remained at a low level. Bright prospects of the US economy is wrapped with a discourse Fed to boost interest rates, also contribute to the decline in demand for gold.
Yesterday, the US Unemployment Claims Data for the weekend of November 29 recorded was reduced to 297,000 from 314,000 the previous period, as published by the Department of Labor. And still look mighty dollar against 10 major partner currencies, with the peak level reached in five years, as reflected in the dollar index (.USD), ie 89 110