Gold Stocks (GDX) Tumble Gold Drops to $1,718

Gold stocks confused Thursday morning, with the Market Vectors Gold Miners ETF (GDX) falling $1.36, or 2.3%, to $57.60 per share. Gold stocks and the GDX opened acutely lower as gold futures alone $26.40 to $1,718.40 per ounce afterward comments from Mario Draghi, President of the European Axial Coffer (ECB).
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Draghi Backs Off From Bond-Buying Idea Gold Slides

Gold futures angry acutely lower Thursday morning afterwards European Axial Coffer (ECB) President Mario Draghi backed off from beforehand comments that the ECB would accede accretion the bulk of bonds it would acquirement to axis the course of the absolute debt crisis.
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Gold Price Firm afterwards ECB Rate Cut

The gold amount captivated close Thursday morning abreast $1,745 per ounce afterwards the European Central Bank (ECB) cut its criterion absorption amount by 25 base credibility to 1.0%, as expected. The atom amount of gold initially jumped to as aerial as $1,757.80 afterward the ECB’s announcement, but anon afterwards pared its assets as the U.S. dollar bounced aback adjoin the euro currency. The gold amount additionally showed a alloyed acknowledgment to the most recent address on U.S. abandoned claims, which fell by 23,000 to 381,000 – their everyman akin back February of this year and beneath the 395,000 accord appraisal amid economists.
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