Oil And Gold Analysis: Gold Prices Slip After 2-Week High
ICM Brokers | Mar 03, 2015 05:43AM ET
CL
West Texas Intermediate oil futures shook off earlier weakness on Monday to trade higher as traders digested the latest batch of U.S. economic data in their quest to gauge the strength of the economy. On the New York Mercantile Exchange, crude oil for delivery in April climbed 49 cents, or 0.98%, to trade at $50.25 a barrel during U.S. morning hours after hitting an intraday low of $48.72.
Gold
Gold prices slipped on Monday afternoon, after reaching a two-week high, amid conflicting reports about demand from the world's two largest purchasers of the precious metal. Gold initially rose in morning trading following the release of a spate of economic data in China. For the month of February, the HSBC China Manufacturing PMI rose to 50.7 up a point from 49.7 in January. China also cut its benchmark interest rate for the second time in less than four months, as a number of economists expect more easing measures to follow throughout the remainder of the year.
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