Gold Edges Lower Ahead Of ECB Decision

Gold prices edged lower in European trade on Thursday, as market players awaited the outcome of the European Central Bank's meeting for fresh clues on when it will start to shift away from its ultra-easy policy.
Comex gold futures were at $1,238.68 a troy ounce by , down $3.30, or around 0.3%. Gold prices finished a few cents higher on Wednesday, extending their streak of gains to a fourth session.
Most of the focus will be on President Mario Draghi's press conference 45 minutes after the announcement, as investors look for more clues on when and how the ECB could scale back its massive quantitative easing program.
Market experts believe the central bank is likely to wait until September before announcing a tapering of its 60 billion euros of monthly asset purchases. For More Information About Commodity Market Please Visit : www.paceresearchindia.com and Call : 8817774774