Strong session for gold

摘要

Despite JPMorgan's rescue of First Republic Bank, financial stocks were under pressure on Wall Street overnight. The SP 500 dropped by nearly 1.2. Oil slumped by more than 5 to US$71.66 a barrel. Despite a looming US interest rate rise on Wednesday, Comex gold futures rallied from a low of $1986.90 an ounce to as high as $2026.80/oz. Futures last traded at $2023.30/oz, while Australian dollar spot gold was at A$3027/oz.