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Gold weighed down by prospects of ECB, Fed tightening

Reuters  |  LONDON 

By Eric OnstadLONDON (Reuters) - Gold fell on Friday after a European Central Bank official called for scaling back the bank's stimulus programme, although losses were capped when weaker than expected U.S. economic data raised questions about further rate hikes. ECB board member Sabine Lautenschlaeger made the most explicit call so far from an ECB policymaker for paring the bank's 2.3 trillion euros money-printing programme.Data showing that euro zone wages grew at their fastest rate in two years in the second quarter bolstered the case for reining in ECB stimulus. "For gold this is bad news ...

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First Published: Fri, September 15 2017. 19:30 IST
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