Gold Gives up Gains After Rally; All Eyes on Fed
Gold prices gave up their gains after rallying following the European Central Bank’s (ECB) decisions to cut rate and promise quantitative easing. The ECB cut its deposit rate to a record low of -0.5%, while promising that rates would stay low for longer. Eurozone action pressures the Fed to take similar dovish action at its next policy meeting Sept. 17-18.
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