Mark O’Byrne submits:
Gold
Gold range traded overnight from $1,099/oz to $1,103/oz but it has since moved up some 1.7%. Gold is currently trading at $1,112.00/oz and in euro and GBP terms, gold is trading at €775/oz and £688/oz respectively.
Gold is stronger today due to the weaker dollar and positive Chinese economic data which bodes well for demand for gold in China as we approach the Chinese New Year. Also supporting gold are higher oil prices due to the cold winter in the northern hemisphere and the Russia-Belarus oil row. While talk of a Russian threat to European oil and gas supply is exaggerated, it is a reminder that geopolitical risks remain.