Marketplace Focuses On Oil, US Dollar

London (Dec 18)  Gold prices are higher and seeing a moderate corrective bounce after the strong losses seen on Thursday. The "outside markets" are the focus of the entire marketplace late this week. Nymex crude oil prices are lower Friday morning and fell to a seven-year low of $34.41 a barrel in overnight trading. The OPEC oil cartel on Friday said crude oil prices will remain below $100 for the long-term. However, the cartel predicted $70 a barrel by 2020.

Source: KitcoNews