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Crude Keeps Higher, Gold Lower for Second Session

COMMODITIES
  • WTI and Brent crude futures both trade in positive territory, although both benchmarks sit just below their respective weekly highs.
  • Oil markets continue to receive support from buoyant global equities, while markets watch the latest round of talks in Vienna Wednesday, after reports circulated earlier in the week of reluctance in Iran to comply with restrictions on their nuclear programme.
  • This keeps first resistance in WTI crude futures intact at $68.87 while Brent eyes $71.34 first and foremost.
  • Precious metals, however, sit slightly underwater, with gold and silver lower for a second session. The firmer greenback is weighing, but solid support is intact for now.

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