Commodity Market Outlook 06-11-2012
Gold flat after coming off 2-month low
U.S. stocks advanced modestly on Monday
U.S. crude steady ahead of election
Gold traded steady on Tuesday as investors awaited potential policy spinoffs from the U.S. presidential election, while China’s upcoming leadership transition and Greece’s strike over a new austerity package also kept sentiment cautious.
Spot gold ticked up $1.47 to $1,685.46.
Brent crude jumped nearly 2 percent on Monday, snapping a string of five lower settlements as stronger U.S. gasoline futures helped oil to rally while storm-ravaged areas of the East Coast continued to grapple with the aftermath of Hurricane Sandy.
Brent crude stood at $107.66 per barrel.
U.S. crude for December delivery had slipped 4 cents to $85.61 per barrel.