Commodities Rebound as Eurozone Fears Ease

Commodities recovered in Asian session on Monday after the selloff last week. The front-month contract for WTI crude oil climbed higher to 89.3 after the -2.65% decline last week. Better-than-expected economic data in the US and Europe fueled speculations of higher fuel demands. Precious metal prices also rebounded with the benchmark contract for gold rebounding to 1350 after closing at 1341, a level not seen since November, last Friday, and silver jumping to 27.9 after losing more than -3% last week.

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Commodities Rebound as Eurozone Fears Ease