Gold rises 0.8% to $1,203; oil falls 2% to $55.26

April 21, 2015

San Francisco (Apr 21)  Gold futures reclaimed the $1,200 level as tensions in the Middle East and nagging worries over debt woes in Greece helped lift safe-haven investment demand for the metal.

Gold for June delivery on Comex rose 0.8 percent to settle at $1,203.10 an ounce after losing 0.8 percent yesterday.

In other metals, May silver rose 0.8 percent to $16.008 an ounce.

July platinum rose 0.3 percent to $1,152.50 an ounce, while June palladium gained 0.3 percent to $774.55 an ounce.

May copper fell 1.1 percent to $2.702 a pound.

In energy trading, oil futures settled with a loss today, as traders bet that weekly data will show another increase in U.S. crude supplies.

The expiration of the May futures contracts on the New York Mercantile Exchange exacerbated the decline for oil.

May crude, which went off the board at the close, fell 2 percent to settle at $55.26 a barrel on the New York Mercantile Exchange, after posting gains over the previous seven of eight trading sessions.

June crude, which became the front-month contract, fell 2.2 percent to $56.61 a barrel.

Source: ProactiveInvestors

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