Gold Pops Briefly on Draghi Comments But Gains Don't Hold

London (Dec 4)  Gold prices pushed to their daily highs in the immediate aftermath of dovish comments from European Central Bank president Mario Draghi, during his monthly press conference following the ECB monthly meeting. The Euro currency rallied and the U.S. dollar index sold off, which was bullish for the gold market. However, gold prices quickly backed down to trade modestly lower, and where they were before the Draghi press conference began. February gold was last down $2.30 an ounce at $1,206.50.

Source: KitcoNews