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Oil And Gold Analysis: Oil Erases Losses, Gold Falls Back

Published 04/08/2015, 04:25 AM
Updated 04/25/2018, 04:40 AM

CL
Oil futures rallied on Tuesday, erasing losses on strong jobs data, U.S. government forecasts for lower domestic crude production growth and higher global demand for oil. Also supportive was an Energy Information Administration monthly report raising forecasts for U.S. and global demand growth and lowering forecasts for crude oil production growth in the United States.

Oil 4-Hour Chart

GOLD
Gold futures fell back on Tuesday amid a stronger dollar, erasing some of the gains from Monday's rally when the precious metal nearly reached a seven-week high following a disappointing U.S. jobs report.

Gold 4-Hour Chart

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