Gold consolidates while crude plummets on escalating tensions from Iraq . . . . . . . . . . . . . . Gold consolidated so far in New York as no specific data or event occurred to trigger the yellow precious metal prices to climb up or plummet after that it traded below a two-month high as U.S. existing-home sales surged Whereas crude prices kept on getting pulled down to the downside on escalating violence from Iraq; a major oil producer country. Not forgetting that he International Energy Agency said June 13 that violence n Iraq is the biggest risk to new supply this decade from any nation in the Organization of Petroleum Exporting Countries. On the other hand today the National Association of Realtors reported the sale of previously-owned homes rose 4.9 percent in May to an annualized rate of 4.9 million, versus a 1.5 percent gain the month before. Accordingly the gold is so far trading around $1317.50 an ounce recording a high of $1318.30 ounce and a low of $1309.75 an ounce and crude is trading around $106.20 a barrel recording a high of $107.35 a barrel and a low of $105.90 a barrel. #egyptyard
Posted on: Mon, 23 Jun 2014 18:44:02 +0000