Global QE and the Gold Price

After months of waiting, the European Central Bank (ECB) finally carried through with its stated promise of unlimited monetary support to its ailing economy. The ECB announced its own version of quantitative easing (QE) on Thursday, a move which lifted the dark clouds that have recently hung over financial markets.
In March the ECB will begin purchasing 60 billion euros’ worth of government and corporate bonds through September 2016. In response to the announcement the equity markets of several major countries rallied while the price of gold and silver also rose.