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

Crude oil prices are trading lower today on profit booking following substantial gains yesterday. Further, an increase in crude oil inventories by 2.99 mn barrels last week as reported by Energy Information Administration yesterday, also weighed on the outlook for oil demand. A stronger greenback also added to the losses. The front-month WTI future is currently trading at USD 109.36/bbl, compared to prior close of USD 110.10/bbl. Brent is trading at USD 115.75/bbl, compared to prior close of USD 116.61/bbl. (17:15 IST)

Gold prices are trading lower today, weighed by a stronger Dollar. Further, some profit booking also weighed on the metal prices. However, a halt in ETF sell-off as reflected in SPDR Gold Trust holdings remaining unchanged at 921.03 tonnes yesterday gave some support to the prices and limited the losses. Spot gold is currently trading at USD 1411.95/oz, as compared yesterday's close of USD 1417.51/oz. (17:15 IST)

Source : Equity Bulls

Keywords