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Commodities Briefing - Categorized | Bullion/Gold, Market Moves, Oil more

Possible Middle East truce pressures oil, gold

Posted on 21 November 2012

Oil fell more than 2 percent on Tuesday, retreating from a one-month peak as investors took risk premium out of the market after a Hamas official announced that militants from the Gaza Strip and Israel had agreed to a ceasefire brokered by Egypt.
Gold also fell, erasing early gains after better-than-expected U.S. housing data, while grains firmed amid concerns about tight supplies. Corn prices rose for the third day in a row, hitting their highest level in more than a week………………………………………Full Article: Source

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