|09-16-2014, 03:19 PM||#1|
Gold climbed faintly while that crude rebounded on a weak dollar
Gold climbed faintly on signs of increased physical demand after that it rose to the highest in more than a week as escalating tension in Ukraine spurred haven demand while that crude rebounded after the dollar slid from a 14-month high, increasing the appeal of oil as an investment.
Otherwise today further optimism reined the commodities market after that a report showed that manufacturing activity in the New York region was stronger than expected in June, the New York Federal Reserve said Thursday.
The Empire State diffusion index of current general activity increased from a reading of 14.69 in August to 27.54 this month. The index is at its highest reading since October 2009.
Economists polled by Bloomberg had expected a reading of 16.0 this month. A reading above zero indicates expansion.
Accordingly the gold is so far trading around $1233.10 an ounce recording a high of $1238.55 ounce and a low of $1227.65 an ounce and crude is trading around $92.88 a barrel recording a high of $92.95 a barrel and a low of $90.85 a barrel.
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