Gold price off its lows as ECB signals further stimulus in December

Gold price off its lows as ECB signals further stimulus in December

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – Gold prices remain under pressure, but well off their session lows after the European Central Bank (ECB) signaled it would unleash new monetary policy stimulus measures in December as the European economy continues to feel the devastating effects of the COVID-19 pandemic.

ECB president Christine Lagarde said in a press conference following the ECB ’s monetary policy decision that it is clear the European economy will need further support as a second wave of the coronavirus forces countries to institute new lockdown measures.

“We have little doubt that circumstances will warrant a recalibration and implementation of monetary policy,” she said.

The dovish outlook is helping gold prices recover from Wednesday sharp selloff. Panic selling has swept through financial markets […]

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