https://www.goldrepublic.com/news/three-secrets-about-draghis-1-140-billion-bazooka.html
Last Thursday, Draghi — with his distinctive Italian accent —
announced that the ECB will undertake its largest stimulus program
ever. From March onwards, the ECB will purchase €60 billion worth of
government bonds each month. The program will run for nineteen months
and will amount to a total of €1,140 billion (around 8.8% of Eurozone
GDP). After this announcement, the euro plunged to its 11-year low. Gold
benefitted as well. Gold investors were the big winners of this week
because, next to the weaker euro, the gold price in dollars increased as
well. Since its low thirteen months ago, gold has already risen by over
30%.
No comments:
Post a Comment