Crude oil prices have slipped ahead of the US weekly inventory data. Speculators seem to be cutting long position in anticipation. Market experts expect US crude oil prices to range between $58 to $63, anticipating that the US crude oil would trade for the whole year.
Markets have been reacting to Trump’s decision on imposing import tariff on steel and aluminium, exempting Canada and Mexico. However, EU, Australia and Japan have been asking to be exempted.
Pressure on gold prices has increased as they have declined on the gains of equity market whereas, silver prices witnessed support from industrial demand.
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