The ECB cut its level interest rate by 0.25%, bringing rates back to a record low of 1%. Elsewhere on the Comex, silver for March delivery settled at USD32.25 a troy ounce by close of trade on Friday, slumping 1.22% on the week, while copper for March delivery settled at USD3.572 a pound, shedding 0.35% over the week.
In the week ahead, investors will keep a close eye on the borrowing costs of troubled euro zone states, as a rise in bond yields could prompt a rating cut after Standard & Poor's warned that it may carry out a mass downgrade of 15 euro zone members. The Official data shows that the consumer price inflation rose 4.2% in November, the smallest gain in 14 months, easing sharply from 5.5% in October. The data boosted assumption that further monetary easing measures in the near-term to help bolster growth in the world's second biggest economy.