Gold gains for third day before US data that may shape rate path
Bullion traded near $2,670 an ounce — touching the highest since mid-December.
Bullion was ripping higher in Asian trade on Monday with the gold price scaling the crucial $1,300 level for the first time in a month.
A number of observers say the relatively rare occurrence of backwardation in the gold futures market means that physical demand is about the overwhelm the over-leveraged bullion banks and an imminent short squeeze of epic proportions will send prices soaring again.
