Oil Prices Edged Higher Tuesday While Gold Prices Drop
ICM Brokers | Dec 17, 2014 05:45AM ET
CL
Crude Oil prices edged higher on Tuesday in uneven trading even after a weak Chinese manufacturing gauge and soft U.S. housing numbers fuelled demand fears, as perceptions the commodity may be oversold lifted futures into positive territory. Concerns that global supply far exceeds demand have beaten oil prices during the second half of this year, and data out of China and the U.S. worsened those concerns.
GOLD
Gold prices dropped on Tuesday after investors signal off disappointing housing data that would have otherwise boosted prices and jumped to the sidelines ahead of the Federal Reserve's statement on interest rates and monetary policy due out Wednesday.
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