A Technical Look At Gold & WTI Crude Oil
$GLD, $USO, $OIL
On Gold
Gold rose Monday, following its decline Friday, ahead of policy meetings by the BOJ and FOMC this week that could weigh on the precious Yellow metal’s movements.
It hit a high of 1257.17 oz, and currently trading lower around 1230.10.
Gold faded Friday after hitting a 13-month high of at 1283.17, as investors put their money in equities after their rally.
Physical demand for Spot Gold’s top Asian buyers, China and India, was weak last week, but the precious Yellow metal still has gained 18 YTD.
On WTI Crude Oil
Black Gold prices retreated on profit-taking, following rally over the past few weeks.
News Monday that Iran would not join output freeze had weighed on prices.
The front-month WTI Crude Oil contract fell -3.43%, the Brent Crude contract was down -2.13%.
Stay tuned…
Paul Ebeling
HeffX-LTN
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