Gold's daily chart shows relative weakness.
UKOilSpot (UKOILSPOT)
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Past Performance: Past Performance is not an indicator of future results.
UKOilSpot represents the current spot price of Brent Crude (as opposed to the Futures price).
Spot Oil prices are derived from the prices of various Futures contracts. FXCM use a method that derives a spot price based on the real time movements of the front two Futures months.
Gold's daily chart shows relative weakness.
Weak Chinese data feeds into oil prices.
Gold's hourly chart shows signs of bullishness but momentum needs to pick up.
XAU/USD runs its fourth consecutive profitable week, but the technical landscape gets tougher, while investors brace for another inflation update from the United States
The Organization of the Petroleum Exporting Countries (OPEC) and its allies decided to continue increasing their production next month, but only by 100,000 barrels per day
Gold is inversely related to real rates in the current market environment. This connection may suggest that the recent gold appreciation is a rally in a broader downtrend.
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