Komfie Manalo, Opalesque Asia:
Continued uncertainty in Ukraine and the fear of high equity valuations in the United States contributed to a general underpinning of commodity prices, and a divergence in global equity market performance, Toronto-based alternative investment firm Integrated Asset Management Corp said of the month of April.
"It seems that Russia's downgrade from the credit rating S&P has dominated the equity and commodity markets today, prompting investors to lock in recent gains in the oil market," said Myrto Sokou, senior research analyst at Sucden brokers, to Sapa/AFP on April 25, as S&P downgraded its rating of Russia’s ability to repay debt and oil prices retreated. "Renewed tensions over Ukraine between Russia and the West have triggered fresh worries about possible oil supplies issues in the region," Sokou added.
According to Reuters today, Brent futures held above $109 a barrel as fresh tensions over Ukraine kept them on course for their biggest weekly rise since mid-April.
Gold prices have been retreating lately (edging down towards $1,290 an ounce on Tuesday), just as stocks are improving. Gold is considered a haven from political instability, ......................
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