5 Nov 2013
Gold grinds slightly lower, crude oil in consolidation mode
FXstreet.com (Athens) – Gold is trading at 1312.68, down 0.18%, while oil prices on both sides of Atlantic are very little changed, almost muted.
Crude oil is heading at $95.51/brl at the time of writing, up 0.02%, while Brent oil price is standing at $106.24/brl, up 0.03%. On Monday, U.S. crude for December gained 1 cent to settle at $94.62 a barrel after posting its own four-month low of $94.06 earlier in the session, while Brent crude futures rose on Monday, recovering after falling to a four-month low on weaker-than-expected U.S. economic data, as traders bought back short positions to take profits on. Finally, Gold prices ended nearly flat in light trade on Monday, supported by a weak dollar and backing from senior Fed officials of continued monetary stimulus, but pressured by caution ahead of an important U.S. payrolls report. Ahead of, we will witness the US ISM data which could influence the commodity prices.
Crude oil is heading at $95.51/brl at the time of writing, up 0.02%, while Brent oil price is standing at $106.24/brl, up 0.03%. On Monday, U.S. crude for December gained 1 cent to settle at $94.62 a barrel after posting its own four-month low of $94.06 earlier in the session, while Brent crude futures rose on Monday, recovering after falling to a four-month low on weaker-than-expected U.S. economic data, as traders bought back short positions to take profits on. Finally, Gold prices ended nearly flat in light trade on Monday, supported by a weak dollar and backing from senior Fed officials of continued monetary stimulus, but pressured by caution ahead of an important U.S. payrolls report. Ahead of, we will witness the US ISM data which could influence the commodity prices.