Gold, Silver and Crude Oil
Trade in Crude Oil, which shed 2% to close at 87.24 bbl, was driven by economic concerns, as well as strength in the USD. The futures traded to their lowest levels, at 85.64, in mid-morning trade, but managed to bounce close to 2 pts off those lows heading into the close.
Nat Gas prices sold off in mid-morning trade, moving back to levels seen in overnight trade. On the session prices fell 1.6% to finish at 3.92 per MMBtu.
It was a choppy session for the Gold price, which gained 0.2% to finish at 1859.50 oz. Despite numerous economic concerns, strength in the USD kept a lid on any potential move to the upside.
Silver futures closed lower by 2.1% to 41.62 oz.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.