Gold, Silver and Crude Oil Trading
US Gold futures finished pit trade higher Thursday. The Key outside markets were in a Bullish mode for the precious metals; weaker USD index and higher Crude Oil prices.
Aug. Gold last traded + 8.20 at 1,579.00 oz.
Spot Gold was last quoted + 6.30 at 1,580.50 oz.
Sept. Comex Silver last traded + 0.075 at 27.17 oz.
Some more weak US economic data released Thursday morning added to thoughts that the US Federal Reserve will soon implement another round of QE, a positive for the Gold and Silver Bulls Thursday.
The USD index was weaker and hit a 2-week low Thursday. Profit taking was featured but the Greenback Bulls are fading some in here.
Nymex Crude Oil futures prices finished higher Thursday, tapping a 9 wk high at 92.94 bbl.
The London PM Gold fix is 1,584.00 vs the prior London PM fixing at 1,575.25.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.