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Oil, Gold Pull Back on Syria Strike Delay

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FRANCESCA FREEMAN and BEN WINKLEY
Wall St Journal
Sept 2, 2013

LONDON—Crude oil and gold pared overnight losses in London Monday but both remained lower for a third successive session as U.S. plans to delay a possible military strike in Syria eased concerns about the oil supply while upbeat manufacturing data from China and the euro zone briefly pushed traders out of gold.

A positive tone prevailed in foreign exchange, with currencies in emerging markets and others perceived as risky bets such as the commodity-linked currencies of Australia and New Zealand gaining ground against the dollar.

Brent crude for October delivery fell 0.3% to $113.70 a barrel on ICE Futures Europe. U.S. crude-oil futures were down 0.9% at $106.71 a barrel on the New York Mercantile Exchange.

Spot gold was down 0.04% at $1,394.70 a troy ounce.

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This article was posted: Monday, September 2, 2013 at 6:19 am





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