Gold’s shine remains diminished early this morning as it hovers near support. U.S Crude Oil has added value in the wake of President Trump’s decision to pull the U.S out of the Iranian nuclear deal.
Gold: Patience Needed in Gold Market for Speculators
Gold is near 1310.00 U.S Dollars per ounce. Even as growing geo-political tension increases the precious metal value remain muted. This is because the U.S Dollar remains a magnate short term. Traders looking for a reversal higher in Gold will need patience.
Crude Oil: Looking for Additional Value
U.S Crude Oil rose after President Trump’s announcement the U.S is going to pull out of the Iranian nuclear deal. The commodity is above 70.00 U.S Dollars a barrel. Traders looking for additional strength in Crude Oil may be tempted to remain buyers even as the energy creates new highs.