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Commodities Briefing - Categorized | Bullion/Gold, Oil more

Gold Vs. oil: Which commodity has more upside potential?

Posted on 25 September 2013

From a look at the commodities’ charts, it’s clear that the connection between light crude and gold has changed in recent days. Last week, after the Fed said that it would stick to its stimulus plan for now, the yellow metal gained more than 4%, leading the rally in commodities, and it rose to a new one-week high. At the same time, crude oil extended earlier increases and finally gained over 2% on Wednesday.
However, during this euphoric rally, investors overlooked the fact that it was fueled by a weaker economic outlook from the Fed. Therefore, the improvement didn’t last long, and we saw a quick profit-taking during the last two sessions of the week. Gold then gave back almost 60% of the previous sessions’ gains and dropped to $1,325 per ounce on Friday………………………………………..Full Article: Source


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VRS - who has written 36748 posts on Opalesque Commodities Briefing.


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