WORLD TOP CALLS
GOLD 2LAC PRFT
SILVER 75K PRFT
CRUDE 25k PRFT
COPPER 62k PRFT
IN 5 LOTS
FOR 155 WD
LIVE BULLION NEWS UPDATED BY ACTIVE COMMODITY
Gold in backwardation, eyes weekly gains on less hawkish Fed
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Oil prices fell more than 3% on Wednesday, continuing a streak of volatile trading, as the Group of Seven (G7) nations considered a price cap on Russian oil above the current market level and as gasoline inventories in the United States built by more than analysts’ expected.
Gold prices steadied on Wednesday, while copper extended strong gains as risk-driven assets rallied on expectations that the Federal Reserve will hike interest rates at a slower pace in the near-term, which also trimmed dollar gains.
Gold prices rose on Tuesday, but remained pinned near two-week lows as hawkish signals from some Federal Reserve members supported the dollar, while platinum prices surged on expectations of a potential supply deficit next year.
Oil prices dropped to near two-month lows on Monday, sliding around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices.