Precious metal
Precious metals prices fell to its lowest in 10 months on
Friday as the dollar and global equities rose, and was headed for a fifth
straight weekly turn down on hope of a Federal Reserve interest rate climb next
week.
Free Intraday Tips SPDR Gold Trust GLD, the world's biggest gold-backed exchange
traded fund, said its holdings stood at 857.45 tones, stay unmoved from past
business day.
Precious metals are trading lower on COMEX today. We expect
prices to trade lower for the day, dragged down by hope that a possible U.S.
rate climb this week would control demand for the safe-haven asset.
Crude Oil
Crude oil prices rose about 1 percent on Friday on expectations
that non-OPEC producers meeting in Vienna over the weekend would agree to
output restrictions following limits OPEC declared last week to control an oil
glut.
Crude oil is trading higher on NYMEX today. We wait for
prices to trade higher for the day, after OPEC and other producers over the
weekend reached their first deal since 2001 to jointly decrease output in order
to rein in oversupply and prop up the market.
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