Price of Gold slid to $1,238/ounce on Thursday and again on Friday as the physical demand from China calmed down due to New Year’s holidays. Today we might see less volatile market influenced mainly by stock market. We saw last week that bearish sentiment in equities pulled the hedging asset up. However without Chinese market the price might go further down.
Crude Oil WTI slightly decreased on Friday to $97.50/barrel. Today the bearish mood continued and the price fell to $96.75/barrel. The price is dropping with stronger U.S. Dollar but might correct the movemnt later on.
February 3, 2014 – Commodities News
Hot Asset For Today: Gold
Price of Gold slid to $1,238/ounce on Thursday and again on Friday as the physical demand from China calmed down due to New Year’s holidays. Today we might see less volatile market influenced mainly by stock market. We saw last week that bearish sentiment in equities pulled the hedging asset up. However without Chinese market the price might go further down.
Crude Oil WTI slightly decreased on Friday to $97.50/barrel. Today the bearish mood continued and the price fell to $96.75/barrel. The price is dropping with stronger U.S. Dollar but might correct the movemnt later on.
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