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Gold futures pop more than 1% after ECB unleashes basket of easy-money measures


Thursday, 12 September 2019 19:49 WIB

GOLDEMAS


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Gold futures were on track to mark a second consecutive gain Thursday after the European Central Bank cut eurozone interest rates and delivered a batch of measures intended to boost the region’s sluggish economy --bullish moves for bullion.

December gold on Comex gained $21.70 an ounce, or 1.4%, at $1,524.90 an ounce, after rising 0.3% on Wednesday. Silver for December delivery meanwhile, bounced 27 cents, or 1.5%, higher at $18.445 an ounce, after giving up less than 0.1% a day ago.

The ECB cut its deposit rate further into negative territory, decreasing it by 10 basis points to negative 0.5%, while also announcing it would restart its monthly bond-buying program as it attempts to juice inflation and the eurozone economy.

Source: Marketatch


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