Hi guys! Monday oil prices fell as UBS warned of deteriorating commodities environment, as there is global recession in commodities too. ICE January Brent lost 36 cents to $53.88 a barrel, after touching a low of $52.84.
Gold prices also slipped yesterday with a strong dollar and lower oil prices. Spot gold was down at $735.35/738.35 an ounce at 1603 GMT. Gold has been quite bullish in the long term, primarily because the dollar has been weakening substantially on all this liquidity being pumped into the system.
Cheers! Love ya, drive safe!
Barbie
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