Draghi's Taper Talk Delivers Cheaper Gold for Europeans: Chart

Europeans are paying the least this year to buy gold as the euro climbs to a 13-month high on speculation that Mario Draghi’s European Central Bank is poised to reduce unprecedented monetary stimulus. That sent yields higher, damping the allure of the non-interest-bearing metal. Bullion is also being kept in check by record-high equity prices, which point to rising risk appetite, according to analysts at Commerzbank AG.

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