Gold creeped up following recent falls, spurred by a weaker dollar and short covering ahead of the ECB Interest Rate decision later today. The dollar may well determine the direction for gold, as we not only have the ECB, but retail sales figures from the US.
Gold & Silver
- The release of the Beige Book data last night showed that whilst the economy is still sluggish, there had been signs of improving conditions
- The GFMS, the consultancy that complies gold data, confirmed that in 2009, investors bought more gold than jewelers, for the first time in three decades
Major Economic News
ECB INTEREST RATE DECISION