Gold Rises ahead of ECB Meeting. PGMs Surge on Strike and Chinese Auto Sales
BonTradeGold climbed higher in European session, catching up with euro’s strength yesterday. Currently trading at 1251, uptrend for the yellow metal remains intact and as long as uncertainty in macroeconomic outlook persists, gold still has a chance to rise to a new record high. Crude oil trades narrowly around 74 after yesterday's rally. Despite a boost by robust manufacturing data, underlying fundamentals in the US oil market remains weak. We doubt if crude’s rally can sustain.
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Gold Rises ahead of ECB Meeting. PGMs Surge on Strike and Chinese Auto Sales
