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Oil Markets Pause, Precious Metals Offered

COMMODITIES

After a solid finish Thursday across both energy and precious metals products, Friday's early trade has been far more muted with both WTI and Brent crude futures in very minor negative territory, while gold and silver shed 0.3 - 1.0%.

The stronger USD this morning is largely responsible, which is paring back some of the Fed-induced losses suffered in the second half of this week.

50-dma could provide some support going forward for spot gold, crossing today at $1871.59, with yesterday's highs the initial upside target at $1896.26.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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