European Central Bank policymakers highlight risk from strong euro, nuancing Lagarde message By Reuters

Gold Price Today: Gold Futures Rise To Rs 51,752, Silver Reclaims Rs 69,000 Mark As Dollar Eases

Gold prices in India on September 11, 2020 fell in line with global rates which gained in the previous session.

She said she very much hoped that "the outcome of the negotiations, notwithstanding the negotiation posturing and what has been observed over the last few days, will lead to a positive outcome" in regards to the future trade deal between both sides. Spot gold was down 0.3% at $1,947.41 per ounce after rising to $1,965.94 in the previous session.

In global markets, gold prices fell today after posting a strong gain in the previous session.

Lagarde told reporters that the ECB Governing Council had also "carefully assessed" the appreciation of the euro against the dollar, given that it could impact inflation by lowering prices in the euro area.

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A stronger USA dollar makes gold more expensive for holders of other currencies.

An overnight rally in riskier currencies also paused, as foreign exchange traders look for the European Central Bank's tone at its meeting later on Thursday to guide the next move for the euro, dollar and the broader market. Typically, gold and equities share an inverse relationship, wherein an boost in the risk appetite sends investors away from safe-haven bets such as the yellow metal. "We however expect buying interest to emerge at lower levels as increasing challenges to global economy may increase gold's safe haven appeal while Fed's dovish stance and concerns about USA economy may limit upside in United States dollar", the brokerage added.

The Euro touched a 1-week peak versus its U.S. counterpart after the president of the European Central Bank commented that the central bank was merely monitoring the exchange rate and not using it a policy tool.

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