Oil And Gold Prices Dip In Early Asia
ICM Brokers | May 14, 2015 02:26AM ET
CL
Crude oil prices dropped in Asia on Thursday as strong production outlooks continued to dominate market views with few signs of a surge in demand. Crude oil dropped 0.58% to $60.15 a barrel. Overnight, crude inched down on Wednesday as the International Energy Agency suggested a prolonged battle between the U.S. and OPEC for global market share has yet to reach its tipping point.
GOLD
Gold prices dipped in early Asia on Thursday with investors more convinced that easy monetary policies will stay in place for the near-term future around the globe. Gold dipped 0.44% to $1,212 a troy ounce. Meanwhile, U.S. retail sales remained flat in April below economists' forecasts of a 0.2 gain. A reading of department store sales for the month showed a sharp decline of 2.2%, while sales of electronics and appliances fell by 0.4%. Since last April, retail sales have edged up only 0.9%, the lowest level dating back to late 2009.
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