“Gold price recovers as European Central Bank raises rates "...
Gold price recovers as European Central Bank raises rates higher than expected
When is the Sabre Gold Mines price per share ever recover?
https://www.mining.com/gold-price-recovers-as-ecb-raises-rates-by-more-than-expected/
"... Gold prices regained ground after falling to the lowest level in 15 months as the European Central Bank took some investors by surprise and raised rates by 50 basis points on Thursday.
Spot gold rose 1.0% to $1,713.92 per ounce by 1:20 p.m. ET, after falling below the $1,700 level for the first time since March 2021. US gold futures recovered 0.7%, trading at $1,712.00 per ounce in New York.
Meanwhile, both European stocks and bonds slumped and the euro rose after the ECB joined global central banks in driving outsized rate increases to combat inflation.
The rate hike, the first by the ECB in over a decade and its largest since 2000, comes as a brewing political crisis in Italy ramps up the pressure on the central bank to shield the most vulnerable euro zone members from market speculation.
“We view gold as the defensive play against broader market turmoil and rampant inflation,” BMO Capital Markets analyst Colin Hamilton said in a Bloomberg note...."