Gold Tops $1,200/oz


Gold has topped its highly psychological $1200/oz level again and the precious metal has clearly re-entered the realms of its medium-term uptrend. Investors are fleeing to the precious metal again as investors lose confidence in the Dollar amid discouraging economic data. Today’s non-farm payrolls data disappointed just like yesterday’s weekly unemployment claims figure. Hence, the U.S. employment market is not improving as quickly as required in order...

Oil Prices May Decline as Risk Appetite Fades Ahead of US Open

Commodities - Energy

Crude Oil (WTI) $84.45 +$0.60 +0.72%
Prices have rebounded to support-turned-resistance at the lower boundary of a Rising Wedge formation set from early February. Risk trends remain an important driver of directional momentum, with the 20-day percent change correlation between crude and the MSCI World Stock Index now at 0.7. This hints that bearish momentum...

Crude oil has recovered above the $86 figure while gold and silver have extended gains amid a broad recovery in risky assets. US stock index futures hint more of the same may be ahead.

Commodities - Energy

Crude Oil Recovers From Fib Support on Risk Appetite

Crude Oil (WTI) $86.18 +$0.79 +0.93%
Prices reversed lower from the $87 figure to find support at $84.93, the 23.6% Fibonacci retracement of the 03/22 - 04/05 advance, and...