Gold Above Six-week Low at $1,294.65 an Ounce

This morning, gold rose 0.1 percent, or $1.29, to $1,294.65 an ounce, according to Reuters. Meanwhile US gold futures for April delivery rose $1.40, to $1,295.20 an ounce.

Those increases follow the yellow metal’s downward movement on Friday, when it hit a six-week low of $1,285.43 an ounce. Commenting on how gold may fare today, Natixis (EPA:KN) analyst Nic Brown told the news outlet, “[o]ne of the things the market will be focusing on today is repercussion of the European inflation number, which may … allow Draghi to implement some limited quantitative easing and that will help cap the euro on the upside, strengthen the dollar and weigh on gold prices.”