The early impact of the European Central Bank’s surprisingly aggressive policy moves quickly wore off. The euro EURUSD, +0.0000% initially fell but then rallied after ECB President Mario Draghi said he doesn’t anticipate cutting interest rates further. That pressured the U.S. dollar DXY, -0.02% and contributed to dollar-denominated gold’s climb.
Gold for April delivery GCJ6, +0.49% tacked on $15.40, or 1.2%, to settle at $1,272.80 an ounce after tapping intraday lows under $1,238. Prices, which had tallied a loss of roughly 1% over the past three trading sessions, finished at their highest level since Feb. 2, 2015, according to FactSet data.
May silver SIK6, +0.87% climbed 18.3 cents, or 1.2%, to $15.549 an ounce.
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