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Following five sessions of losses, gold prices edged higher early Thursday as oil briefly recaptured the $110 level and as European interest rate decision time neared. The BoE did not adjust its key rate away from 5% as it is seen as stuck between slow growth and rising inflation. The ECB is largely expected to follow suit as it has its own set of similar difficulties to contend with. The Eurozone economy is but one more quarterly contraction away from having the "R" label applied to it, but falling commodity prices have provided last-minute relief on the inflation front - though not as much as was necessary in order for the ECB to reverse its July move and focus on reviving growth by cutting rates by a small amount.
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