On Thursday the market buzz that Europe and England central banks are preparing to scale back monetary stimulus as gold held steady as the US dollar hovered near 10-month lows.
ECB President Mario Draghi intended to single tolerance for a weaker inflation, not an imminent policy tightening, when his comments sent euro higher in this week, as informed a leading business daily.
USD 1,249.58/ounce flat spot gold, for August delivery rose from US gold futures 0.1% to USD 1,249.70/ounce.
A series of hawkish comments from major central banks indicated the arrival of end money era for more than just the US, the US dollar to its lows for the year during Thursday’s trade.
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