Oil And Gold Analysis: Oil Ends Modestly On Friday, Gold Gains
ICM Brokers | Apr 27, 2015 05:14AM ET
CL
Crude oil were mixed on Friday, with London-traded Brent prices hitting the highest level of the year, while New York oil ended modestly lower as investors cashed out of the market to lock in gains from a recent rally, U.S. oil futures have risen almost 16% in April due to mounting expectations that U.S. shale oil production has peaked and may start falling in the coming months amid an ongoing collapse in rigs drilling for oil.
GOLD
Gold prices gained as investors bought following last week’s sharp dip to end the week. Gold prices ended last week at the lowest level in almost five weeks, as global equity markets rallied to trade near all-time highs, dampening the appeal of the precious metal. U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.37% on Friday to close at 97.07, the lowest level since April 6.
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