Commodities Climb Higher as Sentiment Lifted Temporarily

Oil prices climbed higher for a second consecutive day as market sentiment was boosted by potential fixes of the sovereign debt crisis in the Eurozone. The front-month contract for WTI crude oil price rose to as high as 82.80, a 4-day high. Gold prices also rebounded after plummeting below 1550 yesterday. Currently trading at 1670, the benchmark contract recovered more than 100 dollar of loss but remained shy below 1700.

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Commodities Climb Higher as Sentiment Lifted Temporarily