Oil And Gold Analysis: Oil And Gold Rally On Friday
ICM Brokers | Mar 23, 2015 05:43AM ET
CL
Crude oil futures rallied on Friday, as a broadly weaker U.S. dollar lifted demand for dollar-denominated commodities. Based on the most-active contracts, New York-traded oil futures jumped $1.73, or 3.71%, on the week, the first weekly gain in five weeks.
GOLD
Gold rallied to a two-week high on Friday, as the U.S. dollar sold off after the Federal Reserve projected a slower pace of rate hikes following its policy meeting earlier in the week. A delay in raising interest rates would be seen as bullish for gold, as it decreases the relative cost of holding on to the metal, which doesn't offer investors any similar guaranteed payout.
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