Gold Firms, Poised to Make New High on Oil's Rally

Oil and gold prices extended rallies in European session. Although Saudi Arabia and other OPEC countries pledged to replace any loss of oil production in Libya, crude oil prices remained strong with the front-month WTI crude contract surging to as high as 103.41 and corresponding Brent crude contract approaching 120. Gold changed little but maintained an upbeat tone.

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Gold Firms, Poised to Make New High on Oil's Rally