The ECB is all but certain to keep policy unchanged when it announces its decision, which will then be followed by a news conference by its President Christine Lagarde.
Major central banks have rolled out unprecedented stimulus measures and kept interest rates low, driving gold to new highs because of its role as a hedge against inflation and currency debasement.
“Ample money supply, lower interest rates and macro uncertainty should support gold investment,” ANZ analysts said in a note. “Physical demand is recovering, so we see the gold price reaching $2,300/oz next year.”
https://www.reuters.com/article/global-precious/precious-gold-at-one-week-high-as-weak-dollar-supports-ecb-meet-in-focus-idUSL4N2G70K9
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