| Gold ETPs experienced major outflows to the tune of $58.6m last week. The ETFS Gold ETP ended the week down 0.8% but made significant gains during Friday trading on the back of underwhelming policy moves by the European Central Bank (ECB), a depreciating dollar, and a strong US payroll report which increased expectations for a rate hike by the Federal Reserve in December.
The day’s rally highlights that further movements in the price of the yellow metal may be possible in the lead up to the Federal Open Market Committee meeting on 16 December. Aneeka Gupta, Associate – Research Analyst at ETF Securities, commented: “Gold rose 2.6% on Friday after the US dollar depreciated by 2.4% on Thursday following the ECB’s disappointing policy moves...............................................Full Article: Source
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