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Oil and Gold Correlation – Video Analysis

Market Analysis

Oil and Gold Correlation Analysis – WTIcrude slumped 3% to sink to $42.20 bbl to more than erase the earlier rally over $44 bbl after the EIA update which showed a 2.45 mln bbl crude drawdown vs 2.1 mln bbl draw forecast. Meanwhile Gold sparked back up from 1-month lows of $1,241 to probe $1,247 before stalling again after stocks stuck a toe in the red earlier before finding some traction. 

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Stuart Cowell

Senior Market Analyst

HotForex

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