Home Market Gold prices stabilized after the ECB’s urgent stimulus policy, global economic recession

Gold prices stabilized after the ECB’s urgent stimulus policy, global economic recession

by Thắng Nguyễn

Gold prices stabilized on Friday after the Central Bank of Europe lowered its growth forecast and issued an emergency stimulus round. Meanwhile, the greenback gained ahead of US non-farm payroll data.
Gold for immediate delivery is stable at 1,285.17 USD / ounce. US gold futures also unchanged at 1286 USD / ounce.
Asian stocks with losses on Friday made investors worried about the prospect of a recession. The US dollar was lower against major currencies, hovering near the new high of 97,710. The plan of change was introduced by the ECB on Thursday, pushing the time to raise interest rates after the first crisis until 2020 and providing banks with a new round of cheap loans to help revive the regional economy. Euro.
National security adviser Donald Trump said the US president was ready to negotiate with Pyongyang on denuclearization. There is an opinion that the Fed should lower its expectation to raise interest rates even if its economic forecast does not change, because of signs of slowdown in spending and other risks.
British Prime Minister Theresa May is still addressing issues related to Ireland in Brexit talks, or the risk of Britain leaving the EU without a deal.
Besides, China’s gold reserves have increased slightly to $ 79.498 billion when the central bank of China increased the total gold reserve to 60,260 million troy ounces.

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