Gold Inches Higher After ECB Hawkish Minutes
1/11/2018 1:58 PM
Gold futures rose Thursday for the highest settlement prices since September.
The dollar slumped versus the euro after the European Central Bank issued a hawkish statement from the minutes of their most recent meeting.
That drove gold slightly higher for a second session. Gold was up $3.20 to $1322.40 an ounce.
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.
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.
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