Gold prices traded lower on Friday. Spot gold was at $1,195.60 a troy ounce in morning European trade.

A stronger greenback weighed on gold price. The U.S. dollar traded higher against the most major currencies after the ECB announced details of it quantitative easing programme. The European Central Bank (ECB) President Mario Draghi said at the press conference on Thursday that the central bank will start its 60 billion euro-a-month bond purchases on March, 9. He noted that the ECB will buy euro-dominated public sector securities in the secondary market, and it will also continue to purchase asset-backed securities and covered bonds.

The U.S. labour market data on Friday might provide the further direction of gold price.

Bloomberg

The Price of Oil Is Down, So Why Is Production Still Going Up?

Too much oil, too fast.

That turns out to be the downside of the U.S. oil boom-at least if you're an investor. Prices crashed, and America is pumping so much crude its running out of places to store it. One promising sign you may have heard about: The plunge in U.S. oil rigs.

Source: http://www.bloomberg.com/news/articles/2015-03-05/the-price-of-oil-is-down-so-why-is-production-still-going-up-

MarketWatch

European stocks extend multiyear highs ahead of QE launch

LONDON (MarketWatch) - European stocks rose Friday, extending their reach into multiyear highs ahead of the start of a massive asset-purchase program aimed at bolstering inflation levels and growth in the eurozone.

Source: http://www.marketwatch.com/story/european-stocks-extend-multiyear-highs-ahead-of-qe-launch-2015-03-06

RTTNews

Asian Stocks Rise After ECB Boost

The Asian stock markets rose broadly on Friday after the European Central Bank upped economic growth forecasts for the euro zone and laid out its plans for bond purchases to combat deflation. ECB President Mario Draghi on Thursday said the ECB would purchase 60 billion euros of public and private sector assets each and every month until September 2016, or beyond if necessary to put the eurozone back on track for sustained growth. The bond-buying stimulus program would begin on March 9.

Source: http://www.rttnews.com/2466958/asian-stocks-rise-after-ecb-boost.aspx

(raw materials / closing price /% change)

Oil 50.76 -1.49%

Gold 1,198.90 +0.23%