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$700 Million in Gold Futures Dumped on Market 1-minute before Jobs Data was released (twitter)
Author: erotekznfv
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Crude Prices Rebounded on Encouraging US Data and Surprising Inventory Fall
Crude oil strengthened as geopolitical tensions escalated in the Middle East. US-led forces continued with airstrikes against Islamic State militants in Syria while the UK signaled possibility of adding its military support. Meanwhile, US crude and gasoline inventories declined more than expected on lower imports.
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Crude Prices Rebounded on Encouraging US Data and Surprising Inventory Fall -
Sentiment Upbeat amidst Expectations of Prolonged Accommodative Environment. Yellen in Jackson Hole under Spotlight
Upbeat market sentiment continued to pressure gold, sending the benchmark Comex contract to a 2-month low of 1273.4 before recovering to 1275.4, -1.53%, at close. Crude oil prices climbed higher on encouraging US economic data. Data in the US exceeded market expectations but investors anticipated Fed Chair Janet Yellen to deliver dovish comments at her Jackson Hole speech.
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Sentiment Upbeat amidst Expectations of Prolonged Accommodative Environment. Yellen in Jackson Hole under Spotlight