Oil And Gold Analysis: Crude Futures Fall , Gold Holds On To Gains
ICM Brokers | Mar 25, 2015 05:47AM ET
CL
Crude futures fell slightly on Tuesday, as strong consumer prices for the month of February halted the dollar's rapid depreciation against the euro. During an extremely volatile month of March, analysts have viewed the strength of the dollar as one of the main indicators of the fluctuations in oil prices. In recent days, energy traders have used a weaker dollar to hedge their positions in crude oil.
GOLD
Gold prices held on to gains on Tuesday, after data showed that consumer price inflation in the U.S. rose in line with expectations in February, while prices excluding food and energy costs inched up modestly. The U.S. Department of Labor said that consumer prices increased 0.2% last month, meeting forecasts and following a drop of 0.7% in January.
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