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Gold Experiences Slight Rise, WTI hovers around $70

Yesterday, US markets closed with slight declines in major indices such as the Dow Jones and the S&P 500. In contrast, the Nasdaq rose 0.9% on the back of gains in technology stocks. In this morning’s Asian session, the S&P 500 was up 1% and the Nasdaq 0.2%.

Ten-year Treasuries recovered some of their losses caused by comments from the Federal Reserve signaling the possibility of tapering fiscal stimulus sooner than expected. Bonds were up 1.51%, at the time of writing.

WTI (West Texas Intermediate) trades around $70 a barrel after touching a low of $69.96 a barrel yesterday. Gold is recording slight declines. However, during the morning Asian session, the yellow metal was trading at $1785.76 an ounce, experiencing a small rise of 0.7%.

Next week, volatility is expected due to the following important economic releases and events:

  • Australia Retail Sales m/m
  • Bank of England (BoE) Deputy Governor for Prudential Regulation Woods Speech
  • Federal Open Market Committee (FOMC) Member Williams Speech

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