Gold Traders Struggle to Parse Clues From Draghi on Stimulus
- Prices swings between gains and losses as ECB looks at options
- Holdings in gold-backed exchange traded funds fell, data show
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Mario Draghi has put the gold market on hold.
Bullion swung between gains and losses as investors assessed the outlook for economic stimulus after the European Central Bank president said officials will look at redesigning the ECB’s quantitative-easing program. Draghi ordered the review to ensure the program doesn’t run out of bonds to buy. He played down the need to commit to new stimulus for now. Gold futures closed lower.