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Gold dips on 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 and strong U.S. inflation data raised the prospects of another rate hike.ECB board member Sabine Lautenschlaeger on Friday 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 also boosted chances of reining in ECB stimulus. "For gold this is bad news because this continues the trend ...

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First Published: Fri, September 15 2017. 19:14 IST