Gold rises 1% as dollar weakens after ECB stands pat on policy (Reuters)

“The ECB didn’t really change its policy and so we are seeing the U.S. dollar dropping here. That’s positive for gold,” said Bart Melek, head of commodity strategies at TD Securities.

The dollar fell 0.3%, making gold less expensive for holders of other currencies, as the euro rose after ECB President Christine Lagarde said while it is keeping a close eye on the exchange rate, it is not a monetary policy tool.

https://www.reuters.com/article/global-precious/precious-gold-rises-1-as-dollar-weakens-after-ecb-stands-pat-on-policy-idUSL4N2G73D7