Gold Prices falls below $1200/oz after nearly 3 years - ICICI Bank : Treasury Research

Global crude oil prices are trading slightly higher today as positive US economic data supported the outlook on oil demand. Meanwhile, Brent continues to trade little changed. The front-month WTI future is currently trading at USD 97.26/bbl compared to yesterday's close of USD 97.05/bbl while Brent is trading at USD 102.83/bbl, compared to yesterday's close of USD 102.82/bbl (17:30 IST).

Gold prices changed slightly today after falling below USD 1200/oz yesterday, for the first time in nearly 3 years. Though continued uncertainty over tapering of QE by the Fed continues to weigh on the metal prices, some value buying after the recent losses provided support. Meanwhile holdings in SPDR gold trust remained unchanged at 969.5 tonnes. Spot gold is currently trading at USD 1203/oz compared to prior close of USD 1200/oz (17:30 IST).

Source : Equity Bulls

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