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Oil And Gold Technicals: March 20, 2014

Published 03/20/2015, 04:06 AM
Updated 04/25/2018, 04:40 AM
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Crude oil futures fell back sharply on Thursday one day after comments from the Federal Reserve urged a broad rally, as oil traders shifted their focus back to the glut in global supply. Prices for the international benchmark of crude also dropped quickly, after Kuwait's oil minister said his nation has agreed to keep output levels steady. Ali al-Omair, Kuwait's oil minister, indicated that current market conditions have forced OPEC to maintain its production level. “Will be very happy if other producers cut output," he added that the world's 10th largest oil producer can't afford to lose its share in the market.

Oil

GOLD
Gold prices soared for the second consecutive session, one day after somewhat dovish comments from Federal Reserve chair Janet Yellen regarding a potential interest rate hike helped the precious metal rebound from an extended slump.

Gold

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