Thursday, 19 June 2014

Today's Commodity Market Outlook

Gold traded near the highest level in three weeks.

Silver for immediate delivery rose as much as 0.3 percent.

U.S. crude supplies declined by 579,000 barrels last week.

Crude oil rose 0.2 percent to $106.21 a barrel.

Nickel fell a second day, declining 0.3 percent.

Gold traded near the highest level in three weeks as the U.S. Federal Reserve trimmed its outlook for economic growth and said interest rates will remain low, boosting demand for bullion as an alternative investment. Silver climbed to a one-month high. West Texas Intermediate crude rose 0.2 percent to $106.21 a barrel, after dropping a third day yesterday. U.S. crude supplies declined by 579,000 barrels last week, according to Energy Information Administration data released yesterday.

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