ECB rate and gold price

[amelie]

Does anyone have any opinion on the possible change (or not) by the ECB on Wednesday of the interest rate and its effect on gold? If it is going to move gold, by how much in which direction? I am assuming, if it is cut the euro will drop, dollar rise and gold drop, if they drop the rate. Just wondering whether to close out some positions before Bernanke on Thursday. If I do, before or after the ECB announcement. If it stays the same I would assume a smaller movement in the opposite direction.
Any comments?
Leopard?

 

[Martinghoul]

They will do nothing, IMHO. Whatever they do will have no effect on gold, IMHO.

 

[CharlesBakerfx]

Does anyone have any opinion on the possible change (or not) by the ECB on Wednesday of the interest rate and its effect on gold? If it is going to move gold, by how much in which direction? I am assuming, if it is cut the euro will drop, dollar rise and gold drop, if they drop the rate. Just wondering whether to close out some positions before Bernanke on Thursday. If I do, before or after the ECB announcement. If it stays the same I would assume a smaller movement in the opposite direction.
Any comments?
Leopard?

It is obvious that the ECB will keep the low interest rate in the foreseen future, so I don't see any ‎influence from this direction on the gold. The investors are concentrating on the ECB press ‎conference and trying to find information there. According to that, they base their decisions in the ‎stock markets that currently have negative correlation with the stock markets‎