Gold Flat After ECB Minutes
1/11/2018 8:05 AM
Gold futures were little changed Thursday morning, keeping recent gains after the European Central Bank signalled optimism about the region's economy.
The European Central Bank's guidance on future actions will change slowly as the economy improves and could be revisited early this year, Bloomberg reports, citing the minutes of the most recent ECB meeting.
Gold was up 30 cents at $1320 an ounce. Gold touched a 4-month peak last week before levelling off.
The German economy expanded at the fastest pace in six years in 2017, driven by domestic demand, preliminary data from Destatis showed Thursday.
Gross domestic product grew 2.2 percent in 2017 after expanding 1.9 percent in 2016. This was the fastest growth since 2011. The biggest euro area economy has expanded for the eighth year in a row.
On the US economic front, the Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 245K, compared to 250K in the prior week.
The Labor Department's Producer Price Index or PPI for December will be published at 8.30 am ET. The consensus is for 0.2 percent compared to 0.4 percent a month ago.
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