Commodities traded sideways ahead of US’ inflation data and Fed Chairman Ben Bernanke’s speech at Boston Fed Conference. Currently at 82.5, the benchmark contract for WTI crude oil price has been hovering narrowly around 83. Crude oil has been staying above 80 over the past 2 weeks and some OPEC members voiced out that they want to see oil above 100 as weakness in the dollar depreciates revenues. Gold remains at elevated level and has been fluctuating around 1380 throughout Asian and European sessions.
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Commodities Move Sideways ahead of US Data, Bernanke’s Speech
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