Gold remains within the weaker frontier of its mid-term range. U.S Crude Oil came off Friday’s highs as traders may have cashed out winning positions.
Gold: Calms Conditions Could Change Rapidly
Gold is near 1320.00 U.S Dollars an ounce. The precious metal saw a rather quiet but weakened range yesterday and is hovering above key support levels. Although market conditions have been calm, traders should be ready for potential volatility to develop later.
U.S Crude Oil: Patience Needed in Crude Oil
Crude Oil gave back some of its gains on Monday that it had made before going into the weekend. The commodity is above the 61.00 U.S Dollar level, and while speculators may believe there is upside value to be found, clearly U.S Crude Oil is testing its mid-term range. Patient traders may remain buyers but they should be nimble.