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Crude Oil May Fall on LTRO2 Repayment, Gold Aiming Higher

Posted
2/22/2013 9:42:00 AM
By: International Business Times
Referenced Stocks:

Crude oil may continue lower as a large ECB LTRO2 repayment dents risk appetite. Gold is aiming to correct higher having hit an eight-month low.

Talking Points

Commodity prices are correcting narrowly higher in early European trade as markets digest yesterday's aggressive selloff across most benchmark asset. S&P 500 stock index futures are pointing higher, hinting cycle-sensitive crude oil and copper prices have scope to follow stocks higher into the end of the trading week. Gold and silver are likewise primed for a narrow recovery having hit the lowest levels in eight and six months respectively earlier this week.

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