Gold Sales from Official Sector Plunged Sharply

Commodities continued to move sideways in European session while stock markets generally advanced in response to Friday's stronger-than-expected durable goods orders (excl. transport) and new home sales data. In the precious metal complex, gold consolidated around 1300 while silver climbed further (intra-day high: 21.645) due to its lower valuation than gold. Both of platinum and palladium retreated. Currently trading at 76.5, WTI crude oil changed little with near-term bias skewing upward.

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Gold Sales from Official Sector Plunged Sharply