Energy prices declined on profit-taking. The front-month WTI crude contract dropped -3.03% and settled at 47.05, the lowest close in 3 days, while the Brent contract lost -3.38% and settled at 49.16, the lowest close since August 15. Besides taking profit following the strong rally over the past weeks, supply remains a concern.
Original post:
Energy Prices Retreated as Oversupply remains Worrisome
Gold rebounded strongly ahead of the US opens, helped by weakening in the US dollar as investors viewed comments from Fed’s Dudley as dovish. The yellow metal also attracted safe haven demand as the US and its Gulf Arab allies launched first strikes in Syria against Islamic State militants. The benchmark Comex gold contract jumped to a 4-day high of 1237 at one point.
Original post:
Gold Rebounded to Highest Level in 4 Days