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Oil Moderates, Precious Metals See Little Support

COMMODITIES

After this week's sharp rally, WTI and Brent crude futures have moderated slightly but continue to hold close to the top-end of the recent range. Soft equity markets this morning are largely responsible for the pullback in commodity prices, with Brent futures dipping back below the $50/bbl mark.

Precious metals are seeing little support from soft risk sentiment early Friday, with spot gold still pinned between the 50- and 200-dma directional triggers. These levels lie at $1875.29 and $1809.67 respectively.

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