Gold prices trading sideways as ECB fails to offer new stimulus cues

Gold (XAU/USD) prices have continued to trade mostly sideways in the past week after the European Central Bank (ECB) failed to provide any specific indication on further stimulus. Fundamental analysis: ECB offers no clues Spot gold prices are trading 0.2% higher to $1,944.27 per ounce today as the sideways action in the market continues. “The ECB did not address the stronger euro, neither did it come up with any stimulus plans, which will keep inflation in check in the eurozone. That’s negative for gold,” Peter Fertig, analyst at Quantitative Commodity Research said. Christine Lagarde, President of the European Central Bank,