Commodities Daily - April 19, 2018
Oil up on EIA weekly report amid stock market gains; JMMC meeting eyed. We expect Brent to hold near $74/bbl for the rest of the week as sentiment remains broadly upbeat and could be further buoyed by a bullish outcome to the JMMC meeting.Gold surged following spike in base metal prices. This morning, gold has held within its new $1,350-1,355/oz range. Later on today we see a dip likely on profit taking, pushing gold closer to the lower end of this range.
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