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Oil And Gold Analysis: November 06, 2013

Published 11/06/2013, 03:25 AM
Updated 04/25/2018, 04:40 AM
GC
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CL
Crude fell to trade near the lowest price in more than four months amid speculation crude inventories increased for a seventh week in the U.S., the world’s biggest oil consumer. WTI fell 5.8 percent in October, the biggest monthly decrease in a year, as a surge in U.S. crude production bolstered inventories. Output rose to 7.9 million barrels a day as of Oct. 18, the fastest rate since March 1989, according to the EIA, the Energy Department’s statistical unit.
Oil Hour Chart

GOLD
Gold slumped to the lowest price in more than two weeks as U.S. service industries grew faster than forecast, increasing speculation that the Federal Reserve may start tapering stimulus measures later this year. Trading was 32 percent below the average in the past 100 days for this time of day.
Gold Hour Chart

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