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Elaborating on, U.S. Crude Oil for October delivery settled up 2%, or $2.16 per barrel, at $110.53. Brent oil seems to have already priced in geopolitical concern over Syria. Brent Crude Oil Futures for October delivery settled up 86 cents per barrel to $116.12, on Friday. Last but not least, U.S. crude settled with its largest weekly percentage gain in two months, at 2.7%, the highest since July 5.
The spot gold price rose 1.5% on Friday after dismal U.S. Nonfarm Payrolls, baffling traders over when the Federal Reserve will start paring back its massive bond-buying stimulus. However, Friday's rally, gold ended the week 0.5% lower for a second consecutive weekly loss as its safe-haven appeal dropped on a lack of progress about possible U.S. military strikes against Syria. Finally, silver strongly correlated with spot price of gold, was up 2.8% at $23.80 an ounce.
9 Sep 2013
Crude Oil Futures soar on Syria’s concerns
Elaborating on, U.S. Crude Oil for October delivery settled up 2%, or $2.16 per barrel, at $110.53. Brent oil seems to have already priced in geopolitical concern over Syria. Brent Crude Oil Futures for October delivery settled up 86 cents per barrel to $116.12, on Friday. Last but not least, U.S. crude settled with its largest weekly percentage gain in two months, at 2.7%, the highest since July 5.
The spot gold price rose 1.5% on Friday after dismal U.S. Nonfarm Payrolls, baffling traders over when the Federal Reserve will start paring back its massive bond-buying stimulus. However, Friday's rally, gold ended the week 0.5% lower for a second consecutive weekly loss as its safe-haven appeal dropped on a lack of progress about possible U.S. military strikes against Syria. Finally, silver strongly correlated with spot price of gold, was up 2.8% at $23.80 an ounce.