Gold Holds Above 1500 amid Debt Concerns

Risk appetite returned with both oil prices soaring in European session. Currently trading at 109.7, the front-month contract for WTI crude oil gained for a second day and fluctuated around a 3-day high. The equivalent Brent crude contract also jumped to as high as 123.15 after declining over the past 2 days. Gold remained resilient and broke above 1500 firmly, driven by strong demand for USD alternatives.

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Gold Holds Above 1500 amid Debt Concerns