Gold rallies after Mario Draghi announcement

Source: Forexpros
Gold futures jumped to four-week high after Mario Draghi claimed that there are signs of economic recovery of the Euro Zone. The announcement lifter the euro against the US dollar thus stimulating the growth in gold's price. Gold's interdependence with the pair EUR/USD is the strongest in the last two years implying that the gold is expected to follow the Euro price movements. COMEX gold's February contract traded at USD1,661.05 a troy, during the European session, advancing 1.28%.


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Thu, 12 Jan 2012 19:16:18 GMT

Euro Zone's industrial production fell in November

Industrial output in the Euro Zone decreased for the third month in line. The region's industrial output fell by 0.1% seasonally adjusted in November as compared to 0.2% expected decrease. On a yearly basis, the production dropped by 0.3% in November confronting the forecasts of 0.2% decrease.

Thu, 12 Jan 2012 19:15:58 GMT

ECB leaves the key interest rate at 1%

The ECB left the key interest rate unchanged at 1.0% for the second consecutive month in compliance with expectations, reported the ECB. After the data release, the Euro faced slight gains against the US Dollar and the pair is trading at 1.2771, edging up 0.5%.

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