Gold Price Pauses After Recent Decline
London (July 21) Gold futures were flat Thursday morning after the European Central Bank stood pat on interest rates. The ECB looked to soothe markets by emphasizing it will keep its easy policy for 'extended period' in the wake of the UK's shock Brexit vote.
Gold was down 20 cents at USD1319 an ounce, near yesterday's 3-week low. The precious metal has lost some of its appeal in recent weeks as stocks rallied to record highs in the US
The Labor Department is due to release its weekly jobless claims report for the week ended July 16th at 8:30 am ET. Economists expect claims to have increased to 265,000 from 254,000 in the previous week.