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Oil And Gold Analysis: November 05, 2013

Published 11/05/2013, 04:43 AM
Updated 04/25/2018, 04:40 AM
GC
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CL
Crude was little changed near the lowest level in four months amid rising supplies and as the dollar weakened against the euro. Prices ended up 1 cent. Libya, North Africa’s largest oil producer, prepared to resume exports at two terminals, according to the state oil company. U.S. crude stockpiles are at the most in four months, and shipments from Iraq jumped in October, government reports showed last week. The dollar slid from a six-week high, strengthening oil as an alternate investment, amid speculation that the Federal Reserve will maintain stimulus.
Oil Hour Chart

GOLD
Gold prices eased on Monday on talk that the European Central Bank (ECB) may loosen monetary policy this week and as speculation revived that the US Federal Reserve may scale back stimulus measures later this year. Gold gained $5.00 moving most of the day between small gains and losses with no real direction.
Gold Hour Chart

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