Gold Firmed due to Confluence of Geopolitical Tensions, Mixed US Data and Ease of Indian Import Ban

Crude oil retreated on profit-taking after the rally the day before. The front-month contract for WTI crude oil slipped -0.32% while the Brent crude contract, after initially soaring to a 11-month high of 111.04, ended the day -0.18% lower. Gold continued to trade below 1300 but recorded an intra-day gain of +0.54%.

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Gold Firmed due to Confluence of Geopolitical Tensions, Mixed US Data and Ease of Indian Import Ban