Profit-taking in Commodities was Limited by Weak USD

Commodities had volatile trading but the day was finished with little change. Profit-taking was seen after recent rally but loss was limited by weakness in the US dollar. The front-month contract for WTI crude oil initially fell to 111.12 before recovering to 112.21 at close while Brent crude dipped to 112.78 before rebounding to 124.14. Concerning precious metals, gold plunged to a 4-day low of 1492 earlier in the day but managed to recapture 1500, closing at 1503.5, at last. Silver was hit hard with the benchmark contract settling at 45.05, losing -4.45%, during the day.

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Profit-taking in Commodities was Limited by Weak USD