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Gold Slightly Softer as EuroStoxx50 Strikes Post-COVID High

COMMODITIES

Spot gold trades under minor pressure, with the risk-on theme across equity markets countering any support the precious metal may be receiving from the weaker USD. Gold is lower by just over $4/oz but is yet to test the Friday low at $1,861.01 , a slip through here opens congestion support at the September, November lows of $1,848.80-1,850.51.

Energy markets are higher, with the oil price flattered by the weaker greenback and seeing follow-through buying alongside equities. Reports of a Houthi attack on an Aramco installation in Jeddah, Saudi Arabia have also propped up the price. WTI futures today touched 43.36, the highest since early September.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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