Forex Trading : Gold declines continued Friday to near the level of technical support that as long as we pointed out at $ 1190.00 an ounce after European stock markets rose strongly influenced to begin the formal quantitative easing program.
Also was a big force that the US dollar gained a significant impact on the bottom falling gold 1200.00 psychological areas.
Draghi's remarks:
Starting March 9 will be activated to work quantitative easing program by 60 billion euros per month results of the program will be announced successively after each meeting of the European central These procedures may pay inflation towards 2.00%. Positive economic activity. Credit markets have shown remarkable progress. Growth in 2015 to 1.00% in 2016 and to 1.5% in 2017 and to 2.1%. Oil prices support the economy. Quantitative easing program will be time if need be. With negative interest government bonds to be purchased. Greece got a 100 billion euro loan. Bank will not buy Greek or Cypriot bonds.
It was to these statements positive effect on the gold in the first instance where it touched 1210.00 areas, but the strength of the dollar against major currencies and the dollar index to record the highest level in 11 years from the end of gold rises.
Friday is a very important day for gold transactions where issued US labor market and the closure of the gold data on the weekly level below 1190.00 may do sell signals strong.