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Friday 15 July 2016

Free Base Metal Tips with Commodity News

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Gold fell to a two-week low on Thursday as global equities stayed in positive territory after the Bank of England (BoE) surprised investors by leaving interest rates unchanged. Gold touched a two-year high of $1,374.91 last week, after Britain voted to leave the European Union, as worried investors started putting their cash into safe-haven assets. We expect gold prices to trade sideways on the back of short covering after slump in prices.

Silver fell 0.4 percent to $20.25 an ounce.

Crude Oil prices rose 2 percent on Thursday as traders covered short positions a day after crude futures were hammered by data showing weak U.S. fuel demand in a busy summer driving season that heightened fears about a global oil glut. We expect crude oil prices to trade negative on the back of inventory buildup.

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