XAU/USD: waiting for the ECB's decision

Forex analytics: The gold price dropped on Wednesday as the investors were closing trades in the run-up to today's meeting of the ECB. The prices of April's gold futures dropped by 0.5% to 1257.40 USD per ounce, while the spot price decreased below 1253.00. Today, gold is trading in a narrow range and trade volumes are at their lowest.On the weekly chart, XAU/USD dropped below a resistance level of 1258.00 ...