Gold re-approaches 11-month high on COMEX ahead of ECB, U.S. jobs data eyed.

 

Weakness in USDINR can pull down Bullion price in MCX, even if COMEX rallies upside, Gold futures were higher during European morning hours on Thursday on COMEX, re-approaching an 11-month high hit earlier in the week, as markets focused on the European Central Bank's interest rate decision later in the day and Friday’s U.S. non-farm payrolls data. 

Uncertainty over whether Spain will soon request a full scale sovereign bailout also remained.

 

Copper extends gains after Spanish bond auction, ECB ahead

 

Copper futures were higher in LME during European morning hours on Thursday, as market sentiment improved after Spain saw borrowing costs fall at an auction of short- and medium-term bonds ahead of a policy decision by the European Central Bank.

 

Crude oil rebounds from previous day’s plunge; ECB eyed

 

 Crude oil futures were higher during European morning hours on Thursday, as the previous session’s steep decline to a two-month low created bargain buying opportunities for investors reluctant to bet that prices would fall further.