Brent Crude falls, Gold rebounds - ZENMoney

Brent Crude Prices fell despite of a weaker dollar after former U.S. Treasury Secretary Lawrence Summers withdrew his name as a candidate to lead the US Federal Reserv as US and Russian officials reached a weekend deal to strip Syria of chemical weapons and after Iran's new atomic energy chief said that his country wants to settle a decade-old nuclear dispute with the West.

Gold prices rebound on Lawrence Summer's decision to withdraw as a candidate to lead the US Federal Reserve as traders focus. However, concerns over US Fed tapering along with easing geopolitical tensions capped the upside in the Yellow metal. A stronger rupee and weak overseas markets added pressure to the yellow metal at domestic markets.

Silver Prics rose due to strengthening Euro against US dollar after former US Treasury Secretary Lawrence Summers' bowed out of the race to become the next chairman of the Federal Reserve. However, the upside in the white metal capped on easing Syrian tension and speculation that the Fed will start tapering its quantitative easing programme.

Source : Equity Bulls

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