Crude oil to dip on rising inventories, Gold, base
metals under pressure
MUMBAI (Commodity Online):
Precious metals, base metals and Crude Oil prices in the evening session are
expected to trade with negative bias taking cues from weak global market
sentiments triggered by doubts that whether the stimulus measures announced
might be enough to revive growth of the nations amidst revival of Euro zone
debt crisis.
This is creating bearish market sentiments and thereby raising the risk aversion amongst market participants and increase the demand for the US Dollar Index (DX). This in turn would exert downside pressure on the commodities.
Additionally, expectation of rise in the US Crude oil inventories might drive prices of the crude oil on the downside.
This is creating bearish market sentiments and thereby raising the risk aversion amongst market participants and increase the demand for the US Dollar Index (DX). This in turn would exert downside pressure on the commodities.
Additionally, expectation of rise in the US Crude oil inventories might drive prices of the crude oil on the downside.
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