Weekly Fundamentals - SPR Release may Help Ease Oil Price Pressure
LorieFuller31The precious metal complex got hammered last week. The main reason is probably the Fed’s more hawkish policy statement delivered after the March FOMC meeting. Policymakers acknowledged improvement in economic conditions as “unemployment rate has declined notably in recent months”. Gold declined -3.24% and settled at 1655.5 last week while silver plunged -4.69% to end the week at 32.57. Crude oil prices remained range-bounded most time of the week, only showed more volatility later in the week after an unverified report saying that the UK and the US would released strategic petroleum reserve.
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Weekly Fundamentals - SPR Release may Help Ease Oil Price Pressure
