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Commodities Brief – Gold makes failed attempt at 1600, crude oil overtakes 93.00 mark

Gold prices rallied earlier today, however the attempt to overtake the 1600 mark/calculated resistance/upside barrier was stymied. After the US open the yellow metal has once again gone on the defensive Tuesday, paring some of is recent gains and settling at USD $1594.05 per oz. Investors will await a fresh signal as to the direction of gold in the near-term, as a break of the 1600 level could lead to a move higher.

Silver cruises past 29.00
Silver bulls received a welcome sight today as the white metal managed to stream ahead of the 29.00 barrier en route to a steadfast gain Tuesday during American trading. While still operating below the first upside target at 29.45, the price of silver is negotiating a spot price of USD $29.23 per oz.

Crude oil jumps above 93.00
WTI crude oil has been the star commodity of the day as earlier sessions were spent in tight consolidation between the 91.00-92.00 level. However as of American trading the price of crude has climbed to USD $93.35/bbl in these moments, as the bulls seem to be in control Tuesday.

Forex Flash: Departure of Mr Shirakawa, Departure from Banknote Rule - Nomura

Nomura Strategist Yujiro Goto notes that as Mr Shirakawa prepares to depart the BoJ, The DPJ policy chief, Mr. Sakurai, today said the party would support Mr. Kuroda’s nomination for BOJ governor and nomination of Mr. Nakaso for deputy governor, while it would oppose the nomination of Mr. Iwata for deputy governor
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Forex: EUR/GBP takes profit at 0.8794 ahead of UK GDP estimate

The EUR/GBP conquered more space on the upside as it attempted at reaching the 0.8800 mark before 14:00 GMT. Then, the cross took profits from 0.8794 high and eased to 0.8780, for now.
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