Gold Rises to Highest Since March as Euro Advances on ECB
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Gold rose to the highest since March as European Central Bank President Mario Draghi said policy makers agreed to an unlimited bond-purchase program, boosting demand for the metal as a store of value.
Draghi said the ECB will have a “fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area.” A government report tomorrow may show U.S. payrolls grew at a slower pace last month. In August, gold jumped 4.5 percent, the most since January, on speculation that the Federal Reserve and the ECB will increase steps to bolster economies.