#XAU/USD# #oil plummeted to near a one-year low as worries over recession offset positive supply-side signals from a bigger-than-expected crude inventories. Brent oil futures sank 0.3% to $79.51 while WTI crude futures lost 0.1% to $74.16 per barrel. Many are awaiting November’s U.S producer inflation data to see if it would trigger more volatility to the market.
#goldprices pinned below $1,800 on the recovery of the dollar while the markets awaited inflation and GDP data from major countries for further clues in the global economy. Spot gold now traded around $1,770.33 while gold futures fell 0.1% to $1,782.35.
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