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Gold Investors Sit Tight Before Draghi's Last ECB Meet
Thursday, 24 October 2019 15:43 WIB | PRECIOUS METALS |SILVER Spot EmasEMASGOLD

Gold held a gain as investors await European Central Bank President Mario Draghi's final policy meeting and comments on Thursday.

Traders were also weighing the latest Brexit developments, and a raft of earnings. About 80% of companies on the S&P 500 have topped expectations for profits, though Texas Instruments and Caterpillar both showed how uncertainty stemming from trade tensions and global economic weakness.

Central bank easing has been a major theme supporting gold™s gains in 2019 as policy makers respond to signals of a global economic slowdown, especially in Europe. Draghi may elaborate on the institution's plans for debt purchases, and intensify calls for fiscal aid from governments.

Spot gold little changed at $1,492/oz at 7:51am in London; +0.3% Wednesday.

Spot silver little changed at $17.5420/oz. Platinum as much as +1.1% to $926.35/oz, highest level this month. Palladium +0.3% to $1,750.19/oz.

Source : Bloomberg

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