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Gold and oil reverse gains and turn flat

By FXstreet.com,  September 20, 2011, 09:41:00 AM EDT

FXstreet.com (Córdoba) - Gold reversed gains early American session, sliding to $1,778 an ounce and turning flat on the day after surging to $1,796 in the wake of S&P downgrade to Italy. At time of writing, gold is quoting at $1,780 an ounce, slightly below its opening price.

Despite an improved market sentiment, crude oil failed to extend gains above $87 a barrel and pulled back, cutting early gains. Crude for October delivery in New York is currently trading around $86.00 a barrel, also flat on the day.

Brent for November delivery bounced from $107.80 low and peaked at $110.96 during the European session to finally setback toward the $110 area, where it is still 0.55% higher on the day.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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