Commodities :
Gold spot down 0.2% to $1,346.59.
West Texas Intermediate crude declined 3.1 percent to $47.56 a barrel.
Copper fell 3.3 percent to $3.04 a pound, the biggest drop in more than four months.
Crude oil prices rose as US refineries reopened; gold also gained amid lingering geopolitical tensions and a weaker US dollar
Crude oil prices rose this week, supported by increased demand in the US after key refineries and pipelines, which were closed after tropical storm Harvey, gradually resumed operation.
This outweighed the higher than expected crude and gasoline inventories last week as shown in the latest U.S. Energy Information Administration report. Overall, WTI increased 0.4% to USD47.5 per barrel and Brent closed the week up 1.8% to USD53.7 per barrel.
Similarly, gold prices also increased (+1.6% to USD1,346 per troy ounce) on lingering geopolitical tensions and a weaker US dollar. Moreover, reduced Fed rate hike expectations, following a dovish speech by Fed Governor Lael Brainard and the announced resignation of the hawkish Vice-Chair Stanley Fischer, also supported the non-yielding asset.
Bye
Gold spot down 0.2% to $1,346.59.
West Texas Intermediate crude declined 3.1 percent to $47.56 a barrel.
Copper fell 3.3 percent to $3.04 a pound, the biggest drop in more than four months.
Crude oil prices rose as US refineries reopened; gold also gained amid lingering geopolitical tensions and a weaker US dollar
Crude oil prices rose this week, supported by increased demand in the US after key refineries and pipelines, which were closed after tropical storm Harvey, gradually resumed operation.
This outweighed the higher than expected crude and gasoline inventories last week as shown in the latest U.S. Energy Information Administration report. Overall, WTI increased 0.4% to USD47.5 per barrel and Brent closed the week up 1.8% to USD53.7 per barrel.
Similarly, gold prices also increased (+1.6% to USD1,346 per troy ounce) on lingering geopolitical tensions and a weaker US dollar. Moreover, reduced Fed rate hike expectations, following a dovish speech by Fed Governor Lael Brainard and the announced resignation of the hawkish Vice-Chair Stanley Fischer, also supported the non-yielding asset.
Bye