There's not too much else going on in European trading so far, with a lack of catalysts not helping to keep things interesting. But as has been the case since last week though, gold continues to be a standout mover as it is pushing higher once more. The precious metal is up 0.8% again today to $3,653 as it looks to keep the bullish run going.
I probably don't have to keep beating the drums on why gold prices are racing higher as there has been a multitude of reasons for quite a while now. And the technical breakout after consolidating since the end of May just adds to that conviction.
However, the second half of the week might be trickier for gold traders though. All eyes will be on the US CPI report to see if there will be any more curveballs being thrown before we get to the Fed next week. And we'll get a bit of a teaser of that from the US PPI report later in the day.
