Crude Oil to Rise as Gold Falls on Orderly Cyprus Banks Reopen
Crude oil is likely to rise amid a recovery in risk appetite while gold prices fall if Cyprus manages an orderly reopening of the troubled nation's banks.
Talking Points
- Crude Oil, Copper Look to Reopening of Cyprus Banks to Guide Risk Trends
- Gold Prices to Decline as Silver Moves Higher on Recovery in Risk Sentiment
Commodity prices are treading water in late Asian trade as markets continue to cast a worried eye toward the Eurozone. Needless to say, lingering uncertainty in Cyprus and political instability in Italy remain in focus. Greek newspaper Kathimerini reported that Cypriot banks will finally reopen today and traders will be closely watching to gauge the effectiveness of capital controls installed to prevent a mass exodus of capital.
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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.
