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06.03.2014 16:21

Gold rose

Gold prices jumped a sharp growth in the euro against major currencies after a meeting of the ECB.

The European Central Bank on Thursday left interest rates unchanged , despite the extremely low inflation in the eurozone. This suggests that bank managers agree that pricing pressure will gradually increase without any serious further assistance from the central bank.

The European Central Bank raised its forecast for GDP growth in the 18 countries of the euro zone in 2014 to 1.2 % from December's 1.1%. At a press conference following the meeting held on Thursday, the bank said ECB President Mario Draghi .

At the same time, the ECB cut its inflation estimate for the current year from 1.1% to 1%. As the head of the ECB , it is connected to , including the expected decline in oil prices in the whole euro exchange rate stability .

" Eurozone a long period of low inflation, the gain will be gradual. But the decline in energy prices will support the real incomes of the population ," - said M.Dragi .

In 2015, the eurozone's GDP will grow by 1.5 %, while inflation accelerated to 1.3% , as expected in December. In addition , the ECB unveiled forecasts for 2016 and thus for the first time extended the forecast horizon of three years: economic growth in 2016 will be 1.8 %, inflation - 1.5% on average per year , but by the 4th quarter of the price increase will increase to 1.7% .

According M.Dragi , the ECB intends to keep key interest rates at or below the current for a long time .

Furthermore, the pressure on the U.S. dollar have data showing that the number of new orders fell in January, more than expected , along with a reduction in supply , which is another sign of the recent slowdown of industrial activity .

Ministry of Commerce announced that new orders for manufactured goods fell 0.7 percent in January. The figure for December was revised upward - to the level of -2 per cent, compared with 1.5 percent previously reported . Economists forecast that the number of new orders decreased by 0.4 percent.

The cost of the April gold futures on the COMEX today rose to $ 1347.40 per ounce.

06.03.2014 16:44

Oil fluctuated

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