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Commodities Briefing - Categorized | Oil, Price Watch, Trends more

Is crude oil price ready for further growth? What impact on gold?

Posted on 08 October 2013

One of the main events of recent days was the first U.S. government shutdown in 17 years. Light crude dropped to a new monthly low at $101.05 on concerns that this event would reduce demand for black gold in the world’s largest oil consumer market. In the previous week, the yellow metal also declined and dropped below $1,300 an ounce.
Despite this declines, on Wednesday, both commodities rebounded sharply supported by a weaker U.S. dollar as commodities priced in the greenback became less expensive for holders of other currencies. Additionally, in the second half of the previous week we saw similar price action in both cases………………………………………..Full Article: Source


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VRS - who has written 38189 posts on Opalesque Commodities Briefing.


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