The price of gold back to the opening level

The price of gold has increased significantly today, updating the April high, which was associated with the expectations of the outcome of the ECB meeting. However, against the background of the scale of price increases, investors began to record profits, which caused a drop in the level of gold before the opening of the session.

Recall, the ECB did not change its key interest rate on loans, leaving it at zero. The regulator also kept at the level of -0.4% per annum interest on deposits, the rate on margin loans - at a level of 0.25% per annum. The volume of the program of quantitative easing (QE) also remained unchanged - in the amount of 80 billion euros a month.. Meanwhile, at a press conference ECB President Draghi said that inflation in the euro zone may again enter into negative territory in the coming months, but in the second half of the year the prices will start to rise. "Based on current energy prices, inflation could once again be negative in the coming months, before starting to rise in the second half of 2016. Then, supported by our measures in the area of ​​monetary policy and the expected recovery of the economy, inflation should continue to rebound in 2017 and 2018 years ", - said Draghi. Also the head of the ECB said that the Central Bank is still ready to use all available tools, including a further reduction of interest rates to achieve the inflation target.

"The Governing Council will continue to closely monitor the development of prospects for price stability and, if necessary, will use all available instruments in the framework of the mandate to achieve the inflation target," - said Draghi.

It also became known that the assets of the world's largest gold exchange-traded fund SPDR Gold Trust fell by 14 tonnes since the beginning of the week.

Meanwhile, data from the Bureau of Customs in Switzerland have shown that the country has reduced the export of gold in March due to lower deliveries to India and Hong Kong, but dramatically increased the supply of the metal in the UK.

The cost of the June gold futures on the COMEX today fell to $ 1251.6 per ounce.