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Gold, Silver & Crude Oil Rally During Wednesday’s Trading

April 27, 2016 at 9:32 by Vladimir Vyun

Gold and silver rallied today amid speculations that the Federal Reserve will delay planned monetary tightening. The Fed will announce its decision later today, and market participants do not anticipate any change to the monetary policy. June futures for delivery of gold advanced 0.37% to $1,248 per troy ounce as of 9:21 GMT on COMEX today. July silver jumped 1.43% to $17.36 per ounce.

Crude oil also gained, rising on signs of easing global glut. The American Petroleum Institute reported that US inventories shrank by 1.1 million barrels last week. The official report from the Energy Information Administration will be released later today, and specialists expect it to show an increase of stockpiles. June contract for WTI crude oil gained 1.91% to $44.88 per barrel on NYMEX today. Brent crude climbed as much as 2.21% to $46.75 per barrel on ICE. Both grades traded at the highest level since November.

If you have any questions and comments on the commodities today, use the form below to reply.

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