A snippet from ANZ's rundown, this on gold:
- Gold managed to erase earlier losses to end higher after the ECB raised rates by 50bps.
- The subsequent rally in the EUR against the USD helped boost investor appetite.
- Demand for safe haven assets was also stronger as the Italian political crisis worsened.
Fresh elections are coming up in Italy, I wonder if there will be a further tailwind for gold out of Italy in the lead up? That final candle (below) looks like a heads up for some consolidation at least.
