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Gold May Rally Above $1,560, Hedge Fund Telemetry’s Thornton Says
Author: JamisonMancuso
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Gold May Rally Above $1,560, Hedge Fund Telemetry’s Thornton Says
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ECB’s Sovereign Bonds Buying to Start Next Week
Market attention was on the ECB meeting as well as China’s National People Congress. While the former lifted sentiment, the latter raised concerns over the growth outlook in the world’s second largest economy. Stoxx 600 added +0.8% while China’s CSI 300 plunged -1%.
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ECB’s Sovereign Bonds Buying to Start Next Week -
Disappointing Economic Data Raised Hopes that Monetary Easing Would Stay Longer
Soft retail sales in the US sent Wall Street higher, only because it might lead the Fed to remain on hold for a little longer. Wall Street gained with the DJIA and the S&P 500 indices rising +0.55% and +0.67% respectively.
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Disappointing Economic Data Raised Hopes that Monetary Easing Would Stay Longer -
Crude Oil Climbed Higher as Inventory Drew
Crude oil prices firmed as US inventory drew more than expected while distillate stock gained less than forecast. The price increase was limited by the surprising buildup of gasoline stock as well as oil exports from Iraq. Despite fighting in central Iraq, oil exports from the southern region climbed to almost record highs.
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Crude Oil Climbed Higher as Inventory Drew