Oil fell for the first time in three days as a cease-fire between Israel and Hamas held steady and Egyptian President Mohamed Mursi prepared to meet with the nation’s judiciary after protests against his new powers. The meeting may signal that the Egyptian president is trying to cool off the violence that has emerged. Oil has come down a bit but only slightly. We look at this slight edging down as profit taking. West Texas Intermediate crude for January delivery dropped as much as 39 cents to $87.89 a barrel. Prices rose 1.9 percent last week, the most in six weeks, and are down 11 percent this year.GOLD
Gold futures topped $1,750 an ounce and silver climbed to a six-week high as the dollar’s drop spurred demand for the metals as alternative investments. The dollar weakness is supporting gold, gold futures for December delivery rose 1.3 percent to $1,751.40, the biggest gain for a most-active contract since November 6. Earlier, the metal touched $1,755, the highest since October 17. Silver futures for March delivery gained 2.3 percent to $34.206 an ounce. Earlier, the price reached $34.25, the highest since October 11.
Disclaimer: Transactions in spot foreign exchange, spot metals and other off-exchange derivative contracts carry a high degree of risk. The amount of initial margin is small relative to the value of the contract, so that transactions are “leveraged”. A relatively small market movement will have a proportionately larger impact on the funds lodged by the Customer. This may work against you as well as for the Customer. You may sustain a total loss of initial margin funds and any additional funds deposited with the firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.