Can gold hold over $600 in the face of lower oil prices?
*Financial Times, by Neil Dennis, November 17, 2006
Oil hits one-year low
“Oil prices continued to fall on Friday following an overnight rout that drove the benchmark US Nymex front-month contract below $56 a barrel for the first time in nearly a year.
Concerns that the northern hemisphere is due a mild winter at a time when US crude stockpiles remain well above five-year averages, spurred fund selling said energy strategists.”
“The weakness in oil prices put gold under pressure with bullion retreating to $616.50 a troy ounce while silver fell to $12.67 a troy ounce.”
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