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Oil, Gold Pull Back on Syria Strike Delay

Posted By admin On September 2, 2013 @ 6:19 am In Money Watch | Comments Disabled

Wall St Journal [1]
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.

Full article here [1]

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URLs in this post:

[1] Wall St Journal: http://online.wsj.com/article/SB10001424127887323932604579050032287181654.html

[2] Gold Bears Pull $20.8 Billion as BlackRock Says Buy: Commodities: http://www.prisonplanet.com/gold-bears-pull-20-8-billion-as-blackrock-says-buy-commodities.html

[3] Gold Falls in London as Dollar Strengthens, Crude Oil Declines: http://www.prisonplanet.com/gold-falls-in-london-as-dollar-strengthens-crude-oil-declines.html

[4] Gold rises 5 percent on dollar fall, commods rally: http://www.prisonplanet.com/gold-rises-5-percent-on-dollar-fall-commods-rally.html

[5] World Gold Council to CFTC: Don’t mess with paper gold: http://www.prisonplanet.com/world-gold-council-to-cftc-dont-mess-with-paper-gold.html

[6] Gold Cuts 2009 Gains to 30% as Deflation Hits Europe, China Hits New Year “Gold Rush”: http://www.prisonplanet.com/gold-cuts-2009-gains-to-30-as-deflation-hits-europe-china-hits-new-year-gold-rush.html

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