Gold Silver and Crude Oil Recap
Crude Oil futures ended their 5 session rally today after posting modest declines of 0.3% to end at 85.57 bbl. Trade in Crude Oil was quiet Wednesday as prices moved sideways around the flat line ahead of tomorrow's inventory data.
Nat Gas ended lower by 3.5% at 3.49 per MMBtu. Prices were pressured by mild temperatures across the USA, as well as Bearish expectations for tomorrow's inventory data.
After their initial rally in overnight trade, it was a relatively uneventful session for Gold and Silver futures.
Both precious metals pulled back slowly from their highs during the morning session. Futures were able to break that pull back heading into the afternoon and recoup some of their earlier gains.
Gold finished higher by 1.3% at 1682.60 oz, and Silver futures gained 2.4% to finish at 32.79 oz.
Paul A. Ebeling, Jnr.
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.