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Commodities Brief – Gold prices fall to 2010 lows, crude races to 91.00

FXstreet.com (Barcelona) - In the aftermath of several notable events last week, nothing has been roiled more than precious metal and commodity prices. Indeed this trend continued today, with fresh concerns over Cyprus and soft Chinese GDP data, driving the metal to the back below the 1450 mark during European trading. The heavy selloff over the previous two sessions in particular have overwhelmingly lowered the yellow metals price, which not to long ago seemed to be testing the 1600 level. At the time of writing, gold prices are now trading at just USD $1443.11 per oz. Monday.

Silver recovery stalls
The initial reaction via several global risk premia proved unkind to silver, as spot prices followed gold in its path downward Monday. European trading has seen a slight rally in the white metal, though this proved to be short lived, as prices stalled at the 24.78 mark, in turn driving lower. In these moments, the price of silver is operating at USD $24.43 per oz.

Crude falls towards 91.00 level
Crude oil experienced similar declines, as demand was once again called into question. Amplifying the losses of the previous week, Monday has already been a forgettable day for many commodity proponents, with crude being no exception. At this juncture, crude trades at USD $91.18/bbl during European trading.

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Forex Flash: GBP/USD to fail at 1.5420 - Commerzbank

After rallying to the 38.2% retracement of the move seen this year at 1.5420, where it is showing initial failure, Commerzbank analysts expect the momentum to stop there as it is indicated to have ended its 4th wave in a classic 'a-b-c' correction and it has just registered a 13 count on the 240 minute chart. Failure will follow. “Support lies at 1.5118 (short term uptrend) ahead of 1.5028 (the 20th March low). A break below here is needed to trigger another leg lower to the 1.4832 March low. Longer term we target 1.4229, the 2010 low”, wrote analyst Karen Jones.
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