The strengthening U.S. dollar prompted the value of precious metals to slip as the trade week came to a close, according to Bloomberg.
Gold futures were hovering about the psychological price of $1,300 per troy ounce on Tuesday, ebbing and flowing as silver futures also remained even, according to Bloomberg.
Concerns about the rising pitch of tensions between Russia and Ukraine pushed up Brent crude oil futures on Wednesday as the energy commodity registered at north of $110 per barrel for the first time since early last month, according to Bloomberg.
The prospect of continued delays with production in Libya prompted Brent crude oil futures to climb to their top level in more than seven days on Wednesday, according to Bloomberg.
The world’s reserve currency endured slippage during the Tuesday trade session, prompting gold futures to climb in value and push past a threshold value, according to MarketWatch.
Confidence about reduced inventories in the globe’s top consumer prompted West Texas Intermediate crude oil futures to lose value on Tuesday, according to Bloomberg.
Anticipations for additional tapering prompted gold futures to lose value on Wednesday as the yellowish metal dropped to its lowest value in about one week as silver futures also slumped, according to Bloomberg.
The Japanese yen advanced on Tuesday against the world’s reserve currency as Russia welcomed the secession of the Crimea region of Ukraine, according to Bloomberg.
Crude oil futures lost value on Monday amid confidence that supply lines will remain strong in the aftermath of the Sunday vote by Crimea to be annexed by Russia, according to Bloomberg.
The US Dollar has been pummeled in light of the potential Ukraine conflict! The vote on the referendum is Sunday where the Crimean Peninsula may be annexed to Russia.