The gold price ended Friday with its lowest weekly finish in 5 today, dropping as the European Central Bank joined the US Fed and the Bank of England in saying it s too early to start cutting interest rates
Gold ETF the GLD continued to go in the opposite direction to the TLT Treasury bond trust fund on Tuesday fell but government bond prices rose Tuesday, extending the break from their more typical pattern of moving together after bullion-backed ETFs shrank yet again despite longer-term interest rates easing from the highest in 16 years.
The ECB said that the "rate increase today reflects the Governing Council s assessment of the inflation outlook in light of the incoming economic and financial data.