Gold prices also dropped to the lowest level in over two weeks.
“The gold price has come under pressure in response to the latest signs of de-escalation in the Syrian crisis,” analysts at Commerzbank said in a Bloomberg report. “The possibility of the Fed already scaling back its bond purchases following the Federal Open Market Committee’s meeting next week has also not been excluded, which would weigh on the gold price.”
U.S. Oil Fund
Full disclosure: Tom Lydon’s clients own GLD and SLV.
