|01-19-2015, 06:21 PM||#1|
Gold near 4-month high ahead ECB decision, China GDP
Gold traded near a four-month high on Monday as investors looked to Thursday`s meeting of the European Central Bank (ECB) amid speculation it will launch a government bond-buying program.
Investors also await the Chinese GDP tomorrow for more signals about the strength of the economy and the future path of monetary policy.
Meanwhile, market analysts expect China`s economy to grow in the fourth quarter by 7.2%, slightly down from growth rate of 7.3% a quarter ago.
The United States today celebrates the Martin Luther King day, which is expected to cause a state of volatility in the market amid low trading volumes.
Gold prices remain at its current level around $1,275, but that is expected to change if the ECB decided to take on the bond-buying program on Thursday.
Spot gold dropped slightly by 0.30% to $1,275 an ounce at 10:46 GMT, compared with the opening levels of $1,279 an ounce.
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