Gold price could rebound after Mario Draghi, president of the European Central Bank speech

Gold price could rebound after Mario Draghi, president of the European Central Bank speech

Gold price could rebound after Mario Draghi, president of the European Central Bank speech, he mentioned that the European central Bank “ready to move” amid doubts about the recovery of the euro-zone economy.

“The coming weeks we will be watching closely all the information contained on economic and monetary developments and assess their impact on the prospects for price stability.”

Futures continued to gain, the German bonds and interest rates in the euro zone, traders say Draghi’s remarks pave the way for a rate cut in the coming months.

the issue which could lead to an increase in gold price in return back its position as a safe heaven, Gold price watched a decline in three consecutive days and there is a global wish for gold price to rise in the near future.