Gold fell below $1,700
Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.
Crude takes a breather after soaring to 6-week peaks
On Thursday, crude prices turned to be bit lower in European trade, pausing for breath having rallied to the highest value in six weeks in the previous session.
In New York, September delivery US West Texas Intermediate crude contract hit $47.26 a barrel, sliding 0.2%. In the previous session the benchmark hit $47.46 - its highest value since June 7.
Besides this, in London, September delivery Brent futures lost 4 cents trading at $49.66 a barrel, having hit a high of $49.81 yesterday.
On Wednesday, crude prices concluded higher, following data from the Energy Information Administration, which revealed a large sag in domestic crude as well as gasoline supplies.
American crude inventories edged down by 4.7 million barrels at the end of the previous week to 490.6 million barrels. It surpassed the expected sag of 3.2 million barrels.
Meanwhile, gasoline inventories slumped by 4.4 million barrels, contradicting hopes for a much more moderate tumble of 0.7 million barrels.
Similar
GOLD: approaching $1,800!
The shining metal breaks above $1,760. How soon the 2012 heights may be beaten?
Gold shines as bright as $3,000
Find out the most bullish forecast for gold!
Latest news
Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Deposit with your local payment systems
