Daily market review – July 11th 2017


The price of gold recovered yesterday from a four-month low after a positive employment report released last week which bolstered expectations of further US interest rate hikes this year.

The price of the gold closed at a price level of $ 1,213.2 per ounce, up by 0.3% on the New York Exchange.
The price of the gold fell last Friday by 1.1% to $ 1,209.7 per ounce, and it was the lowest level since March 15.

The price of the oil closed yesterday slightly higher in New York on speculation that OPEC would impose restrictions on the cartel companies in Libya and Nigeria.

The WTI oil closed at a price level of $ 44.4 a barrel, up by 0.4% on the New York Exchange after falling almost by 3% on Friday.

The Wall Street Journal reported yesterday that Libya and Nigeria, which were exempt from the agreement of cut production of OPEC, were invited to the meeting of major oil producers this month in Russia.


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