Gold Volatility Bad For Both Camps – Wyckoff | Kitco News

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Kitco News speaks with Jim Wyckoff following Thursday’s European Central Bank meeting to see how he expects it to affect the markets. “I think the marketplace, in general, expected no announcement at today’s monthly ECB meeting,” Jim says. He adds that although the marketplace deemed ECB president Draghi’s remarks a bit dovish and pushed gold higher, the metal quickly fell back to levels it was at before his comments. “Draghi did make mention of not using gold as part of his QE program,” Jim notes. “That was reported to maybe pressure gold a little bit, but I think the vast majority of the marketplace didn’t expect gold to be part of any QE equation in the first place.” Tune in now to see how he sees the gold market set up ahead of nonfarm payrolls data and what market ratings he is giving both gold & silver this week. Kitco News, December 4, 2014.

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