Gold is showing little movement on Thursday, continuing the trend we saw a day earlier. In the European session, the spot price at $1263.81 per ounce. We could see some activity from the precious metal following today's key US releases - Unemployment Claims, Retail Sales and Core Retail Sales. There was more good news on the US employment front, as JOLTS Job Openings jumped to 4.46 million, up sharply from 4.01 million a month earlier. This easily beat the estimate of 4.04 million, and comes on the heels of a positive Nonfarm Payrolls last week. We'll get a look at Unemployment Claims on Thursday, with the markets expecting a slight improvement compared to the previous release. The ECB's rate cuts are a belated response to weak growth and low inflation in the Eurozone, but the markets had expected more. The cut in the benchmark rate was not as deep as anticipated, and many market players were looking for the introduction of an asset purchase program, such as the schemes adopted by the Federal Reserve and Bank of England. It's safe to say that the markets were underwhelmed by the ECB's actions, with one analyst saying the ECB had fired a lot of small bullets rather than resorting to a bazooka. If growth and inflation numbers in the Eurozone continue to struggle, the ECB will be under pressure to take more action next month. After the ECB move, gold got a boost as investors dumped their euros and sought the safety of safe-haven gold.

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