Crude Oil, Gold prices trading higher - ICICI Bank : Treasury Research

Crude oil prices are trading higher today, extending yesterday's gains. WTI and Brent gained 2.9% and 3.3% respectively in yesterday's trade amidst supply concerns due to political turmoil in Syria. Meanwhile, protests in Libya disrupted oil supply, which further aided the prices. However, a stronger greenback weighed on the crude oil prices and limited the upside. Going ahead, markets will closely watch Energy Information Administration's inventory report for further cues. The front-month WTI future is currently trading at USD 110.14/bbl, compared to prior close of USD 109.01/bbl. Brent is trading at USD 115.6/bbl, compared to prior close of USD 114.4/bbl. (17:30 IST)

Gold prices are trading higher today amidst a rise in investment demand as holdings in SPDR Gold Trust increased to 921.03 tonnes from 920.13 tonnes yesterday. However, a stronger Dollar weighed on the losses and capped the upside. Meanwhile, markets await US GDP data due tomorrow for further cues on Fed's asset purchase program. Spot gold is currently trading at USD 1424.6/oz, as compared to yesterday's close of USD 1415.2/oz. (17:30 IST)

Source : Equity Bulls

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