CRUDE
Crude oil futures continue to rise, gaining 2 percent which is a sign of expectations for economic growth. Crude futures for October delivery were up slightly at $88.90 a barrel. However the crude oil inventories report which is scheduled to be released this evening is forecasted for a decline of 500,000 barrels following the industry-funded American Petroleum Institute stating that supplies increased 5.13 million barrels last week, the biggest gain since March of this year.
GOLD
Spot gold declined slightly on Wednesday by 0.2percent to $1832.97 an ounce as investors wait to see if the U.S. Federal Reserve would deploy more stimulus measures. More quantitative easing would increase the economic viewpoint of inflation and ignite more investor interest in buying Gold. Gold is set for its biggest monthly gains since November 2009 with tech levels suggesting that the metal could increase to $1862 an ounce.
Crude oil futures continue to rise, gaining 2 percent which is a sign of expectations for economic growth. Crude futures for October delivery were up slightly at $88.90 a barrel. However the crude oil inventories report which is scheduled to be released this evening is forecasted for a decline of 500,000 barrels following the industry-funded American Petroleum Institute stating that supplies increased 5.13 million barrels last week, the biggest gain since March of this year.
GOLD
Spot gold declined slightly on Wednesday by 0.2percent to $1832.97 an ounce as investors wait to see if the U.S. Federal Reserve would deploy more stimulus measures. More quantitative easing would increase the economic viewpoint of inflation and ignite more investor interest in buying Gold. Gold is set for its biggest monthly gains since November 2009 with tech levels suggesting that the metal could increase to $1862 an ounce.