Oil And Gold Analysis: December 24, 2014
ICM Brokers | Dec 24, 2014 02:03AM ET
CL
Crude oil rallied over 1% on Tuesday, recovering from the previous session's sharp drop but the commodity remained vulnerable as comments by Saudi Arabia Oil Minister Ali al-Naimi continued to weigh. Oil futures remained under pressure after Naimi, along with other officials attending an energy conference in Abu Dhabi over the weekend, reaffirmed the Organization of the Petroleum Exporting Countries' decision to hold output at current levels.
GOLD
Goldprices pulled away from a three-week low on Tuesday, but still remained below the $1,200 threshold as the strong U.S. dollar continued to weigh on the precious metal. The dollar remained supported after data showed that the U.S. economy grew faster than expected in the last quarter.
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