Gold prices fell on Friday, pulling away from the previous session's
five-month highs hit following news the European Central Bank is
launching a large scale quantitative easing program.
On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.44% to $1,295.00.
The February contract ended Thursday's session 0.54% higher at $1,300.70 an ounce.
Gold futures strengthened after the ECB announced on Thursday that it would launch a €60 billion monthly bond buying program that would start in March and last until September 2016, in a bid to stave off the threat of deflation in the euro area and boost growth.
In total, the program could total €1.08 trillion, much higher than market expectations for a figure of around €500 billion.
Read more Click here / www.trade4x.net
On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.44% to $1,295.00.
The February contract ended Thursday's session 0.54% higher at $1,300.70 an ounce.
Gold futures strengthened after the ECB announced on Thursday that it would launch a €60 billion monthly bond buying program that would start in March and last until September 2016, in a bid to stave off the threat of deflation in the euro area and boost growth.
In total, the program could total €1.08 trillion, much higher than market expectations for a figure of around €500 billion.
Read more Click here / www.trade4x.net
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