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03

Gold Set for Second Weekly Loss as ECB Stimulus Vow Helps Dollar

By Tony Seruga

Gold headed for a second weekly decline after the European Central Bank signaled it could increase stimulus, which boosted the dollar and stock markets and reduced demand for a haven. Investors are also waiting for U.S. jobs data Friday to provide clues on the timing of an interest rate rise.

Bullion for immediate delivery was poised for a 0.7 percent decline this week and was little changed from Thursday’s close at $1,125.09 an ounce by 12:24 p.m. in Singapore, according to Bloomberg generic pricing…

Gold Set for Second Weekly Loss as ECB Stimulus Vow Helps Dollar

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