Gold futures rallied Thursday, storming back from early losses after the European Central Bank announced unprecedented stimulus.
The ECB lowered its deposit rate further into negative territory and boosted the size and scope of its asset-buying program.
The bank expanded the monthly purchases under the asset purchase programme by EUR 20 billion to EUR 80 billion starting in April. Economists were looking for an increase of at least EUR 10 billion.
April gold settled at $1,272.80/oz, up $15.40, or 1.2%, edging back near last Friday’s 13-month highs.
The material has been provided by InstaForex Company – www.instaforex.com