Gold futures continued to rise Thursday after European official signalled the era of easy money is nowhere near over.
The European Central Bank left its key interest rates and asset purchases unchanged this morning. In contrast to expectations, there was hardly any change in the wording of the forward guidance.
“The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases,” the ECB reiterated.
Feb. gold climbed $6.60, or 0.5%, to settle at $1,362.90/oz, the highest settlement price since August 2016. The precious metal has surged as the U.S. dollar dropped to its lowest in three years.
In U.S. economic news, there was a rebound in initial jobless claims from their lowest level in nearly 45 years.
The report said initial jobless claims rose to 233,000, an increase of 17,000 from the previous week’s revised level of 216,000.
The material has been provided by InstaForex Company – www.instaforex.com
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