Gold Remained Steady Wednesday After USD Cooled Its Rally
ICM Brokers | Dec 11, 2014 01:56AM ET
CL
Crude oil plunged on Wednesday after data revealed that U.S. stockpiles took an unexpected rise last week, while an OPEC decision to trim its demand forecasts beaten the commodity as well. The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories increased by 1.5 million barrels in the week ended Dec. 5, confounding expectations for a decline of 2.5 million barrels.
GOLD
Gold remain steady on Wednesday after the dollar cooled its rally due to profit taking amid safe-haven demand for the yen, though uncertainty in Europe sent the yellow metal dipping into negative territory during afternoon trading on concerns that the dollar may rise in the near future.
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