(Kitco News) – The gold market is coming off its earlier highs against the euro after the European Central Bank cuts interest rates, citing rising economic uncertainty and waning inflation pressures.In an anticipated move, the European Central Bank once again lowered its three key ECB interest rates by 25 basis points on Thursday. The interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be cut to 2.00%, 2.15% and 2.40% respectively, the central bank said.
