Oil Dips As Gold Inches Up
ICM Brokers | Aug 03, 2015 07:02AM ET
Crude oil prices fell in early Asia on Monday as investors looked ahead to a key manufacturing gauge in China for demand cues. Ahead are manufacturing PMIs from Japan, seen at 51.4 in July, and China - with the Caixin/Markit China final for July seen at 48.3 in the flash estimate. Oil futures for September dipped 0.30% to $46.70 a barrel.
Gold futures inched up modestly on Friday, but still posted the worst monthly performance in more than two years in July, as ongoing expectations that the Federal Reserve will hike interest rates at its September policy meeting weighed. Gold for August delivery hit an intraday low of $1,079 a troy ounce on Friday before recovering to end the session at $1,095 up $6.40.
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