Business: How can the Bank of Japan Spark a Rally in Gold and Crude?

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posted by justlove2lives 603 days ago

North American Commodity Update Commodities - Energy A Rally in Risk Appetite Trends and Tumble for the Dollar Translates into Gains for Oil Crude Oil (LS Nymex) - $82.82 // $1.35 // 1.66% Last week’s bullish drive behind oil was revived through Tuesday’s session as the capital markets showed the evidence of a revived taste for risk appetite. And, despite the fact that this swell in demand for speculative assets was derived through government intervention and manipulation, traders will ultimately go with the flow. For performance, the previous day’s session offered a notable 1.7 percent rally that would mark a fresh seven-month high on both an intraday and close basis (through not by a significant margin on both accounts). The fact that the market has yet to definitively surpass August’s swing high is a hurdle that maintained optimism / speculative demand will have to surpass. Though, considering that four of the past five active trading sessions have seen advances greater than 1.5 percent suggests momentum is on the bulls’ side.
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