Greece to Accelerate Asset-Sale, Commodities Pare Losses as Sentiments Stabilized

Commodities are generally lower following risk aversion moves in other markets on intensifying worry on European debt crisis. The CRB commodities index dropped -1.37% on Monday, along with -1.05% fall in DOW. Nevertheless, note that the CRB index manages to hold above recent low of 332.92 so far. Crude oil also manages to hold above recent low of 94.63 too. The dip in commodities could indeed be part of recent consolidation patterns only. Meanwhile, gold has indeed recovered strongly. Even though comex gold is still limited below near term resistance at 1526.8, XAU/EUR has jumped to now of 1081.45 and could be heading towards 1100 psychological level.

More: 
Greece to Accelerate Asset-Sale, Commodities Pare Losses as Sentiments Stabilized