Safe-haven demand has once again rallied the gold market in moderate fashion Thursday morning, amid some confusion and uncertainty in the immediate aftermath of the European Central Bank’s move to initiate a quantitative easing of its monetary policy. European financial and stock markets are not taking the ECB news in stride, with volatility the order of the day. The Euro currency is trading near a nine-year low and European Union government bonds have seen high volatility but are presently seeing prices rally. The impact of the ECB QE announcement is still playing out in the markets, but at present gold is benefitting. February Comex gold was last up $5.50 an ounce at $1,299.00.
