Market Sentiment Buoyed by Ease in Korean Tensions, China's Pledge to Help EU

Risk appetite improved as tensions on the Korean peninsula eased. The sentiment was further boosted as China said it has taken concrete actions to help the EU solve its debt crisis. The front-month contract for WTI crude oil jumped to a 2-week high of 89.57 before settling at 89.37, up +1.53%. The contract extended strength today in Asia. Gold climbed higher to 1388.9 before closing at 1386.1, +0.50%. Euro's rebound has supported the metal.

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Market Sentiment Buoyed by Ease in Korean Tensions, China's Pledge to Help EU