Gold trading range for the day is 31704-32080.
Gold dropped as the U.S. dollar advanced after ECB offered banks new rounds of multi-year cash, and pushed out the timing of its first post-crisis rate hike to next year.
The ECB slashed its growth and inflation forecasts for 2019 and lowered those for 2020 and 2021, acknowledging that Europe’s slowdown was longer
The latest batch of economic data out of Europe and the U.S. have turned out to be disappointing and the OECD has cut its forecasts for the global economy.
OECD cut forecasts for the global economy in 2019 and 2020, warning that trade disputes and uncertainty over Brexit would hit world commerce and businesses.
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