Gold price rises despite higher oil and rates
Gold broke above USD 4,400 per ounce, driven by ETF demand.
ETF investors added 14.5 tons over four days, with global Gold ETFs seeing July inflows of 23.5 tons.
The price surge is attributed to ETF demand, mainly in Europe and Asia.
Despite the higher oil price, interest rate expectations have risen only slightly, remaining lower than before Friday’s US labour market data.