Crude Oil prices trading lower on Friday - ICICI Bank : Treasury Research

Crude oil prices are trading lower today on profit booking following substantial gains yesterday. However, continued political tensions in the Middle East gave some support to the crude oil prices and capped the downside. Meanwhile, markets await the non farm payrolls data due today for further cues on US economic recovery. The front-month WTI future is currently trading at USD 107.58/bbl compared to prior close of USD 107.89/bbl while Brent is trading at USD 109.25/bbl, compared to prior close of USD 109.54/bbl (17:00 IST)

Gold prices are trading sharply lower today as better than expected US data prints released yesterday added to the fears of an early tapering of Fed's asset purchase program. Gold prices traded at 2 week low and slipped below 1300/oz in trade today. Meanwhile, a decline in SPDR Gold Trust holdings to 921.05 tonnes from 927.35 tonnes yesterday further added to the losses. Spot gold is currently trading at USD 1286.9/oz as compared to yesterday's close of USD 1310.2/oz (17:00 IST).

Source : Equity Bulls

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