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Trade Non-Farm Payrolls LIVE Jul 3rd, 11:30 GMT by Wayne McDonell Register for the Webinar Inflation/safe−haven demand pushes gold, targets key break−out level by James Moore The Bullion Desk London, 02 July 2008 - A rise in tensions in the Middle-East , ongoing inflationary pressure created by rising fuel and food costs and Euro strength ahead of Thursday ECB meeting prompted further gains in the precious metals yesterday with gold trading to its highest since mid-April. Speculation of pre-emptive attacks by Israel on Iran’s nuclear facilities triggered safe-haven buying in the complex as well as pushing oil prices close to their all-time highs. NYMEX crude futures for August closed with a gain of 97-cents at $140.97/barrel. The dollar also weakened although EUR/USD closed off the days high of 1.5827, settling at 1.5789.... [read full story]
