The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
Gold is firm near 2-1/2 weak peaks on softer greenback
On Thursday, gold hovered near two-and-a-half week maximums because market sentiment on the US currency was still fragile notwithstanding the vote of a key American tax reform bill and expected US economic reports.
Trading volumes were believed to become thinner throughout the trading week before the Christmas holiday.
In New York, gold futures were nearly intact hitting $1,268.70 a troy ounce, which is close to Wednesday's two-and-a-half week maximum of $1,271.80.
On Wednesday, the House of Representatives gave the long-awaited approval to the biggest American tax overhaul for the last 30 years. It became a major political win for Donald Trump.
Traders were also waiting a final American third-quarter economic surge report and also jobless claims and manufacturing activity.
Gold happens to be sensitive to any moves in the US currency. A weaker greenback usually makes gold more affordable for holders of foreign currency.
Meanwhile, silver futures headed south 0.22% being worth $16.24 a troy ounce.
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
The yellow metal could not stay for a long time near the $1,401 level.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.