Gold futures continued to rise Thursday morning, hitting fresh 3-month highs after the Bank of England stood pat on interest rates.

A stronger dollar failed to halt gold’s rise, as downbeat economic news from Europe boosted the safe haven appeal of the precious metal.

Gold for April was up $7 to $1148 an ounce, its highest since October. Prices are up about 9 percent in 2016.

The European Commission on Thursday marginally downgraded its euro area growth and inflation projections.

The ECB blames risks from the slowdown in China and other emerging markets, falling oil prices and the weak global trade escalate.

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