Gold prices slipped on Thursday as global stocks traded higher on better-than-expected quarterly results in the final policy update from ECB President Mario Draghi.
December gold on Comex slipped $2.30, or 0.2%, at $1,493.40 an ounce, after posting a 0.6% gain.
Silver for December deliver meanwhile, shed 2 cents, or 0.1%, to reach $17.5 an ounce, following a gain of 0.5% on Wednesday.
In the final meeting with Draghi at the helm, the European Central Bank left its main deposit facility rate at negative 0.5% and its main lending rate at 0%. The rate-setting Governing Council repeated that it expects to keep rates at œpresent or lower levels until inflation, which has remained stubbornly low, œrobustly converges with its target of near but just below 2%. It also reiterated that it will begin a controversial bond-buying program at a pace of 20 billion euros a month beginning in November.
In other metals trade, January platinum gained $2.90, or 0.3%, at $925.30 an ounce, adding to its 3% gain on Wednesday, while December palladium jumped 1.1% to $1,732.30 an ounce, following its own gain a day ago.
Source : MarketWacth
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