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Commodities Brief – Precious metal rally continues, crude holds above 93.00

FXstreet.com (Barcelona) - Gold prices started Friday off with a positive surge, though this has clearly waned as of late during European trading. On the heels of a fresh BoJ reiteration of its stimulus program, the yellow metal was seen easing off its highs of 1476. In recent moments, the price of gold has moved to USD $1464.14 per oz., which still represents a strong gain on the day. Prolonged stability above the 1475 upside target will do much to lend confidence to a further gold rally that could eventually retake the 1500 barrier.

Silver holds above 24.00
Following a successful day for silver yesterday, prices continued to move during European trading Friday. Indeed, a peaking out at 24.40 was met with a pullback, paring much of the overnight gains. Clearly the achievement above 24.00 is viewed as a positive, and prolonged stability above this level could lead to a break higher. In these moments, spot prices for silver have settled at USD $24.11 per oz.

WTI awaits US data
WTI crude oil has remained cautious ahead of the US economic data later today, scheduled during US trading at 12:30 GMT. This has not stopped crude prices from experiencing some sort of pricing movement, as the 93.00 mark has now been retaken overnight, with the price of crude now trading at USD $93.17/bbl.

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