MW: Gold down 1.2% as ECB shies away from bond buying
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold futures traded sharply lower on Thursday, following a broad market swoon as European Central Bank President Mario Draghi stopped short of committing to more bond buying, contrary to market hopes. Gold for February delivery GC2G -1.17% declined $20.80, or 1.2%, to $1,724 an ounce on the Comex division of the New York Mercantile Exchange. A higher dollar also helped prevent any gains for gold and other raw-materials futures.
