Oil Futures Up, Gold Down
Light sweet crude oil for March delivery gained $0.04 to 85.62, as trade data from China signaled strong demand for raw materials. But the rise is capped by supply concerns over possible political unrest in the Middle East and North Africa.
Gold futures for delivery by April slipped $2.1 to $1358.3. But many analysts expect gold to continue its climb throughout the quarter. Last week, the net non-commercial position in COMEX gold futures posted the largest weekly rise since early April 2010, according to the Commodity Futures Trading Commission.
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