CL
Oil rose to 51.50 as number of rigs drilling for oil in the U.S. fell by 42 last week to 760. It was the 18th straight week of declines and the largest drop in a month. Oil traders are looking ahead to a raft of Chinese economic data, including reports on first quarter gross domestic product, as well as data on industrial production and the trade balance, markets will be looking ahead to Tuesday’s report on U.S. retail sales, as well as Friday’s reports on inflation and consumer sentiment, for further indications on the strength of the economy.
GOLD
Gold prices rose as amid speculation key U.S. data add to evidence that the economy slowed in the first quarter. Market will be looking to report on U.S. retail sales, as well as report on inflation and consumer sentiment, Gold advanced for the first time in four days after holdings in exchange-traded products backed by bullion posted the largest increase in more than six weeks. On Thursday, gold-backed ETP holdings rose by 3.9 metric tons, the most since Feb. 23, to 1,620.1 tons.