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Gold & Silver Rally, Crude Oil Doesn’t Join

November 19, 2015 at 18:18 by Vladimir Vyun

Gold and silver gained today at the expense of the weaker dollar. The US currency demonstrated a surprising reaction to the yesterday’s Federal Reserve minutes. The currency dropped, helping dollar-priced commodities, even though the report was rather hawkish. Futures for delivery of gold in December climbed 1.1 percent to $1,080.5 per troy ounce as of 18:11 GMT on COMEX today. Contract for silver advanced 0.95 percent to $14.22 per ounce.

Crude oil demonstrated subdued performance during Thursday’s trading. Brent crude was little changed while the West Texas Intermediate grade dropped. Traders are still concerned about the glut on the market and expect prices to go even lower. January contract for Brent crude oil went up a little by 0.07 percent to trade at $44.17 per barrel on NYMEX today. December WTI oil slid 1.03 percent to $40.33 per barrel on ICE.

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