Gold
Gold fell to a nearly three-week low on Thursday as the dollar gained against the euro after the European Central Bank said it would extend the lifespan of its bond-buying program.
Spot gold was down 0.7 percent at $1,267.61 an ounce after touching $1,266.27, its lowest since Oct. 6. U.S. gold futures for December delivery settled down $9.40, or 0.7 percent, at $1,269.60 per ounce.
European stock markets gained following the decision as investors started to price out future rate increases, moving away from safe-haven gold and bonds and into stocks and other assets perceived as risky. The dollar index crossed above the resistance of 94. An upbeat U.S. economic growth report due tomorrow would further weigh down gold. The next support can be found at $1,260.

Silver
Silver dropped 0.9 percent to $16.76 an ounce after touching $16.72, its lowest since Oct. 6. It breached below the 100-day moving average of $16.88.
Technical front, the 5-day moving average crossed below the 20-day moving average to form a dead cross, suggesting pressure on silver in the near term. The support can be found at $16.65.

 
Dealing Room, ICBC Beijing Branch
Huang Han

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