Sentiment Probably Damped by Downgrade of Spanish Banks

16 October 2012 16 October 2012

timberlan08

Commodities moved sideways ahead of the US session. The front-month contract for WTI crude oil traded at 91/92 while Brent crude fluctuated at 114/115. Gold rebounded after falling over the past 2 trading days with prices slipping to the lowest in a month. The yellow metal’s recent selloff was mainly momentum-based but weak inflation in China also eased demand for gold.