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Commodities: Crude Oil Rises, Gold And Silver Fall

Posted by: : Paul EbelingPosted on: September 26, 2013 Commodities: Crude Oil Rises, Gold And Silver Fall

Nov Crude Oil posted its 1sr gainer in 6 sessions despite a stronger  US Dollar Index (DXY). The energy component briefly fell into the Red, and to a  session low at 102.37 in late afternoon pit trade but regained momentum heading into the close. It settled 0.4% higher at 103.00,  slightly below its session high at 103.19 bbl

Nov Nat Gas slid to a session low of 3.45 per MMBtu on weak inventory  data that showed a build of 87 bcf when a smaller build of 76-79 build was  expected. Then it erased the loss and broke into the Green in  afternoon pit action. It finished with a 0.6% gainer at 3.57 per MMBtu

Precious metals fell Thursday as the USD strengthened following an  unexpected fall in weekly jobless claims data. The initial claims level fell to  305,000 from an upwardly revised 310,000 from 309,000, while the consensus expected the level to increase to 325,000

Dec Gold slipped from its session high of 1337.80, and dipped  below the 1320.00 in early afternoon pit trade, settling with a 0.9% loss at 1324.10 oz

Dec Silver retreated into the Red from its session high at 22.07, it settled 0.7% lower at 21.75 oz.


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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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