Despite pullback below the all-time high at 1254.5, Comex gold’s rally yesterday signaled growth concerns and expectations of prolonged low-rate monetary policy after negative US economic data. The benchmark contract closed at 1248.7, up +1.48% and the biggest one-day gain since June 7. On the other hand, WTI crude oil declined despite modest gains in stock markets and the euro. Investors worried that slowdown in economic recovery would dampen oil demand. The front-month WTI contract settled at 76.76, down -1.13%, while the Brent crude contract gained +0.58% to 79.14.
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Gold Rallied but Faltered Below Record High
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