Gold Falls from Recent High to $1,289.20 an Ounce

Gold fell from its recent high on Wednesday after detailed news regarding the European Central Bank’s (ECB) stimulus plan was released, according to Bloomberg. Central bankers said the ECB plans to purchase 50 billion euros in assets per month through the end of 2016.

iNVEZZ.com reported that spot gold stood at $1,289.20 an ounce following the news. However, prior to its release gold hit a five-month high, breaking above the $1,300-per-ounce barrier.