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Commodities: Crude Oil, Gold Soar as Congress Secures Fiscal Cliff Deal

Commodity prices are pushing aggressively higher as markets enter the new year after US lawmakers reached a last-minute deal avoiding the "fiscal cliff".

Talking Points

  • Commodities Soar After Congress Secures Fiscal Cliff Compromise
  • US Data May Amplify Risk Appetite on Pickup in Manufacturing

Commodities are trading sharply higher as markets return from the New Year holiday amid a broad-based surge in risk appetite after the US Congress reached a last-minute deal averting the so-called "fiscal cliff" . Growth-linked crude oil and copper prices are following Asian and European stocks higher while gold and silver have reversed course upward as the chipper mood dents haven demand for the US Dollar, offering de-facto support to assets priced in terms of the benchmark currency.

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


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

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