Crude Oil
Crude futures edged lower on Tuesday on fears this week's U.S. supply report will come in bearish, while uncertainty over the fate of Ukraine and Gaza in Israel allowing for choppy trading. Crude dips on U.S. supply uncertainty Oil dips on concerns U.S. inventory report will point to healthy stockpiles Markets tracked events unfolding in Ukraine and in Gaza, with investors looking for fresh signs to indicate whether geopolitical tensions in will threaten Russian and Middle East oil exports, and the uncertainty allowed for choppy trading at times on Tuesday. In afternoon trading, prices fell on concerns Wednesday's U.S. supply report will reveal the U.S. is awash in crude, though upbeat U.S. data cushioned losses.
Gold
Gold prices edged lower in U.S. trading on Tuesday after data revealed both consumer prices and existing home sales are on the rise in the U.S., which should prompt the Federal Reserve to do away with loose monetary policies that have supported the commodity for years. Gold falls on upbeat U.S. inflation, home sales data Gold edges lower as positive U.S. data point to eventual Fed tightening The Labor Department reported earlier that the U.S. consumer price index rose 2.1% in June, unchanged from the previous month and in line with forecasts, which strengthened the dollar and weakened gold, as the two assets tend to trade inversely with one another. On a month-over-month basis, U.S. consumer prices were up 0.3% after a 0.4% increase in May, also in line with expectations.
