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Commodity Trading Discussion Forum

report on Gold and Oil

Posted By: Barbara
Date: Thursday, 1 May 2008, at 11:15 a.m.

Hi guys, here's a daily report on Oil and Gold.

OIL

Gains in dollar pushed oil prices back. Anthony Nunan, an assistant general manager for risk management at Mitsubishi Corp. in Tokyo said:, ``The stronger dollar means that we see people taking profit here, people seem to think that the steep drop in interest rates is over. If everybody starts rushing for the exits you could easily see a $10 drop in oil prices.''

Crude oil for June delivery fell as much as 62 cents, or 0.5 percent, to $115.44 a barrel in after-hours electronic trading on the New York Mercantile Exchange.

GOLD

Dollar rise prompted gold to decline. Gold futures for June delivery settled down $19.60 at $889.40 an ounce.

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