Gold: US economic indicators no effect

gold barFollowing the presentation of mixed US economic data, the gold price reacted relatively “coolly”.

Already in the morning turned the gold price after a stable start back into the loss zone and continues to labor on a bottoming in the range of $ 1,285. In the weekly initial claims for US unemployment assistance, the number of 222,000 was slightly higher than expected. On the other hand, the economic outlook for the Philadelphia Fed saw a positive surprise. Instead of a forecast decline from 23.2 to 21.0 meters, a value of 34.4 points was reported. As both indicators did not show a consistent trend, the gold price reaction was relatively moderate.

On Thursday afternoon, the gold price presented itself with yielding prices. Until around 3:00 pm (CEST), the most actively traded futures contractedGold (June) at $ 2.50 to $ 1,289.00 a troy ounce.
Crude oil: Brent “cracks” $ 80 mark

For the first time since November 2014, today’s Thursday cost a barrel of the North Brent brand more than 80 dollars. Once again, the players in the oil markets worry about the threat of loss of significant quantities of oil from Iran. For example, the French oil company Total is considering withdrawing from a major Iran project for fear of imminent US sanctions.

The efforts of the Europeans to maintain the nuclear deal is obviously not a good star. The conflict between Iran and the US could also destabilize the entire region, after all, relations between Iran and Saudi Arabia are anything but good.

On Thursday afternoon, the oil price presented itselfwith higher prices. By 3:00 pm (CEST), the next maturing WTI future (June) was up $ 0.61 to $ 72.10, while its Brent counterpart (July) was up $ 0.63 to $ 79.91.

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