GOLD WEBCAST – Gold prices improve as punchy ECB data bolsters outlook

Otmane El Rhazi from The Bullion Desk.

The gold price handed back some of the gains made in previous sessions on Friday, but is performing well on tentative signs that eurozone economies are turning a corner French third-quarter preliminary GDP rose to 0.3 percent, better than the expected 0.1-percent rise and the previous quarter’s revised -0.1 percent, but non-farm payrolls were down 0.2 percent. German preliminary GDP came in as expected at 0.1 percent. This could alter the perception that the European Central Bank was readying a full-fledged quantitative easing programme next month to prop up the ailing eurozone economy. In other data today, more disappointing data out of China will put pressure on the Chinese government to introduce further stimulus measures, as the country looks to meet its 7.5-percent target for annual GDP growth.

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