London — Gold steadied after three days of gains on Wednesday as traders took to the sidelines ahead of a European Central Bank (ECB) meeting later in the day which is expected to give clues about the outlook for eurozone monetary policy. While the bank is not expected to make any changes to its asset purchase programme until December, investors are seeking more clarity from president Mario Draghi about speculation that it could begin tapering its bond purchases. Gold was at $1,269.20/oz at 9.35am GMT, little changed from $1,268.90 late on Wednesday, while US December gold futures were up 20c at $1,270.10. "The focus today will be the ECB meeting where the market is looking for clarification on a number of issues," Saxo Bank’s head of commodity research Ole Hansen said. "[People are looking for guidance on] bond tapering and further signs that additional measures are off the table." Gold prices are up 1.5% this week, on track to snap three weeks of losses. The precious metal has reg...
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