Rise in Risk Appetite Boosted Commodity Prices
BonTradeGold rallied to as high as 1138.3, the highest level in more than a month, before closing at 1133.3 (+1.7%) Tuesday as the dollar plunged. Price rose to new highs in EUR- and GBP-terms. Crude oil continued to trade within the upper end of recent trading range yesterday. Unexpected decline in distillate inventory and ease in Greece's deficit concerns boosted price but selling pressure was seen above 80, suggesting investors viewed 80 a level too high for front-month crude oil price. The benchmark contract for WTI crude oil added +1.2% to settle at 79.68 Tuesday.
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Rise in Risk Appetite Boosted Commodity Prices
