Gold looks to the UK and Italy for support
Gold took a beating last week at the hands of US rate hike expectations and unexpectedly strong data. Now, renewed dollar strength against EUR and GBP is keeping the pressure up on the yellow metal.
Head of Commodity Strategy, Saxo Bank Group
Summary: European power prices and the cost of carbon emissions have been pushed sharply lower by a blend of mild weather, abundant gas supply and a weaker economic growth outlook. But a project to create a properly-functioning EU emissions trading market is continuing apace.
The SaxoTrader platform offers access to Dutch and German power as well as Dutch gas and the emissions contract.