Gold keeps Steady on ECB meet – Money Maker Research

commodity tipsPrice of Gold held steady early today, aided by a weaker dollar and worries over North Korea, since markets expected the result of a European Central Bank (ECB) policy meet later in the day.

Spot gold was changed a tad at USD 1,334.06/ ounce in early trade, after easing 0.3% in the preceding session. US gold futures for December delivery were also flat at USD 1,339.50.
MCX Gold futures closed at Rs 30,080 per 10 grams, down 0.47% on the day as a drop from highs near Rs 30, 300 continued.

The counter tested a low of Rs 30, 035 per 10 grams yesterday.
Among other metals, silver was down 0.2% to USD 17.80 an ounce, while platinum fell 0.3% to USD 1000.60 per ounce. Palladium lost 0.3% to USD 936.50 per ounce.

Market under fear that if the ECB delivers any unexpected message during the conference, that will frighten the market and the gold price could benefit.

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