Gold (GLD) Ticks Higher as ECB Trims Outlook, Places No Limits on OMT
Tweet Send to a Friend
The SPDR Gold Trust (NYSE: GLD) ETF is higher Thursday as ECB president Mario Draghi says the SMP is terminated and there is no limit on the size of outright monetary transactions (OMT).
The ECB will also suspend minimum credit threshold for some marketable debut instruments.
Draghi notes that the decision wasn't unanimous, that one member dissented.
Finally, the ECB cut growth forecasts, now seeing only gradual recovery.
Gold December contracts are $10.1 higher to $1,704.1 per ounce on the Comex.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The ECB will also suspend minimum credit threshold for some marketable debut instruments.
Draghi notes that the decision wasn't unanimous, that one member dissented.
Finally, the ECB cut growth forecasts, now seeing only gradual recovery.
Gold December contracts are $10.1 higher to $1,704.1 per ounce on the Comex.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Silver, Gold Active as Bernanke Expresses Some Concerns (SLV) (GLD)
- Bernanke Warns Against 'Premature Tightening'
- Analysts Sees Positive Trend in Coal Inventory (ACI) (ANR)
Create E-mail Alert Related Categories
Commodities, ETFs, Forex
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
