Crude oil continues to rise, Gold at $1750 mark, QE rumors

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WTI crude futures rose $1.17, or 1.5%, to $80.52 a barrel.

Brent crude futures rose $1.26, or 1.5%, to $83.65 a barrel.

Crude oil futures closed yesterday (October 11) in the plus. This was driven by higher global oil demand after the economy began to recover from the easing of the COVID-19 freeze. In addition, tight supply in China and India, as well as many other countries, is another factor supporting the continued rise in oil prices.

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The gold price fell $1.7, or 0.1%, to $1,755.7 per ounce.

The silver price fell 4 cents, or 0.18%, to $22.665 an ounce.

Platinum fell $21.3, or 2.07%, to $1,006.90 per ounce.

Palladium prices rose $46.50, or 2.2%, to $2,119.50 per ounce.

Gold contracts continued to weaken as the pressure from the dollar increased. Also, the U.S. Federal Reserve (Fed) is unlikely to postpone its plans to reduce the QE program, although the number of U.S. non-farm job creation was weak in September.

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The U.S. Dollar Index DXY rose 0.26% to 94.3165.

The US dollar strengthened against the yen at 113.32 yen from 112.19 yen.

The dollar strengthened against the Swiss franc at 0.9272 francs from 0.9264 francs.

The US dollar strengthened against the Canadian dollar at 1.2479 Canadian dollars from 1.2459 Canadian dollars.

The euro was lower against the US dollar at $1.1560 from $1.1576.

The pound fell to $1.3609 from $1.3620.

The Australian dollar rose to $0.7353 from $0.7312.

The baht was at 33.87 baht per dollar.

The Spot Market is Open

Tuesday, October 12, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
12.00
1,757.90
1,758.90
+4.10
0.23%
1,750.40
1,760.00
Silver
12.00
22.57
22.67
+0.01
0.04%
22.44
22.73
Platinum
12.00
1,004.00
1,014.00
+3.00
0.30%
996.00
1,014.00
Palladium
12.00
2,043.00
2,193.00
-15.00
-0.73%
2,040.00
2,213.00
Rhodium
12.00
12,850.00
14,850.00
0.00
0.00%
12,850.00
14,850.00
Energy
Updated at

Price

Change

%Change
Crude oil
12.00

80.43

-0.09

-0.11%

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