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Precious Metals Enjoy Weaker Dollar

COMMODITIES
  • WTI and Brent crude futures traded broadly unchanged Thursday, with the moderately weaker USD countered by more positive comments from Iran, as their lead negotiator stated that talks are underway for a single-step sanctions removal - prompting markets to consider a boost in crude supply in the near future.
  • Thursday's NatGas storage change numbers saw a slightly smaller than expected build in supply, at 20BCF vs. Exp. 22.4BCF. This helped support prices into the NY close having traded underwater for much of the early US session.
  • Precious metals generally fared well. The downbeat greenback helped boost prices with gold topping $1750 and hitting the best level in over a month in the process. Next resistance cuts in at the 50-dma at $1761.04, not topped since early February.
Energy BulletsCommodities
Energy BulletsCommodities

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