Gold lost
momentum on Wednesday and slid 0.53 % to $1245.70, pressured by the strong greenback. US
gold futures for April delivery
traded at levels of $1253.20, having topped a high at $1.260
overnight after rebounding from the bottom at $1.230 before.
Meanwhile silver continued its strong performance, having
managed to rise by 11%
this month to over $17. Intraday high was registered at $17.40 and low at
$16.93. Silver showed best performance with its highest level from
May 2015 onwards.
Increases in equity markets twisted with rising oil prices
provided strong support for metals. Copper rose 0.7% to
$224.
The rally in oil prices continues after black gold managed to
grow by over 7.5%, reaching a
five-month high of $44.
Brent crude rose to $45.80.
Oil was boosted by the stockpiles data in the
US for the week to April 15.
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