EBC Gathering Spurs Fall In Gold After Two Week High

Bloomberg reported that gold prices are expected to drop in anticipation of an EBC policy makers meeting tomorrow, after a rally to a two week high causes investors to sell.

Bayram Dincer, an analyst at LGT Capital Management in Pfaeffikon, Switzerland, commented:

After the rally, some position squaring is taking place as participants prefer to reduce exposure to gold ahead of tomorrow’s ECB decision

Click here to read the full Bloomberg report.