Gold prices trading lower on profit booking - ICICI Bank : Treasury Research

Crude oil prices are trading lower today as a lower than expected US economic data weighed on the outlook for oil demand. Prices also remained under pressure on profit booking following substantial gains last week. Meanwhile, markets await American Petroleum Institute data due today and Energy Information Administration's data due tomorrow for further cues. The front-month WTI future is currently trading at USD 106.15/bbl compared to prior close of USD 106.91/bbl while Brent is trading at USD 108.06/bbl, compared to prior close of USD 108.15/bbl. (17:00 IST).

Gold prices are trading lower today on profit booking following substantial gains yesterday. A stronger Dollar also weighed on the prices. However, the downside remained capped following a decline in US home sales as it eased concerns of a reduction in Fed's asset purchase program. Spot gold is currently trading at USD 1328.8/oz as compared to yesterday's close of USD 1335.8/oz. (17:00 IST).

Source : Equity Bulls

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