After the price of Gold sharply increased to $1,266/ounce on Monday afternoon the price reversed and dipped to $1,248/ounce as the U.S. Factory Orders came out slightly better than expected. The price of Gold also reacted to the good performance of U.S. stocks and declined as most of investors moved their investments to riskier assets. Today we should pay attention to U.S. data which will be an important predictor for Friday’s Non-farm payrolls. The trend is slightly bullish.
The price of Crude Oil climbed up to $98,20/barrel and did not follow the downward movement of the U.S. Dollar. The price of Crude Oil usually makes 3 major moves around 15.00 , 17.00 and 20.00 (GMT) when the crude market closes so we should pay attention to these times as well as U.S. Crude Oil Inventories which will come out at 3.30PM (GMT).
February 5, 2014 – Commodities News
Hot Asset For Today: Gold
After the price of Gold sharply increased to $1,266/ounce on Monday afternoon the price reversed and dipped to $1,248/ounce as the U.S. Factory Orders came out slightly better than expected. The price of Gold also reacted to the good performance of U.S. stocks and declined as most of investors moved their investments to riskier assets. Today we should pay attention to U.S. data which will be an important predictor for Friday’s Non-farm payrolls. The trend is slightly bullish.
The price of Crude Oil climbed up to $98,20/barrel and did not follow the downward movement of the U.S. Dollar. The price of Crude Oil usually makes 3 major moves around 15.00 , 17.00 and 20.00 (GMT) when the crude market closes so we should pay attention to these times as well as U.S. Crude Oil Inventories which will come out at 3.30PM (GMT).
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