Gold Surges 4.3 Percent as Oil Slides: Brent Drops to USD96.84
(MENAFN) Precious metals started the week on a strong footing Monday, while crude oil prices extended their slide, with both major benchmarks now deep in the red for the week.
Spot gold climbed 1.16% to $4,117.79 per ounce as of 0620GMT, according to market data, lifting its weekly gain to 4.3%. Silver followed, gaining 1.62% to reach $52.72 per ounce and extending its weekly advance to 4.14%.
Energy markets moved the other way. International benchmark Brent crude fell 1.5% to $96.84 per barrel, deepening its weekly loss to 7.43%. West Texas Intermediate (WTI) slipped 0.98% to $89.94 per barrel, leaving it down 6.59% over the past week.
Refined fuels also softened. Heating oil edged down 0.10% to $4.33 per gallon, and gasoline declined 0.57% to $2.76 per gallon.
In Europe, natural gas bucked the trend on the day, rising 1.03% to €86.48 ($96.5) per megawatt-hour. Even so, prices remained 8.86% lower for the week.
Spot gold climbed 1.16% to $4,117.79 per ounce as of 0620GMT, according to market data, lifting its weekly gain to 4.3%. Silver followed, gaining 1.62% to reach $52.72 per ounce and extending its weekly advance to 4.14%.
Energy markets moved the other way. International benchmark Brent crude fell 1.5% to $96.84 per barrel, deepening its weekly loss to 7.43%. West Texas Intermediate (WTI) slipped 0.98% to $89.94 per barrel, leaving it down 6.59% over the past week.
Refined fuels also softened. Heating oil edged down 0.10% to $4.33 per gallon, and gasoline declined 0.57% to $2.76 per gallon.
In Europe, natural gas bucked the trend on the day, rising 1.03% to €86.48 ($96.5) per megawatt-hour. Even so, prices remained 8.86% lower for the week.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment