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9:45 a.m. Oct. 12, 2021 - By Myra P. Saefong
U.S. oil futures score back-to-back settlements above the key $80 mark U.S. oil futures for a second consecutive session, but global benchmark Brent crude ended the day modestly lower after the the global economy is losing momentum. "Oil price volatility remains elevated as investors await to see how the global energy crisis unfolds," said Edward Moya, senior market analyst at Oanda. West Texas Intermediate crude for November delivery rose 12 cents, or nearly 0.2%, to settle at $80.64 a barrel on the New York Mercantile Exchange. December Brent crude lost 23 cents, or 0.3%, to settle at $83.42 a barrel on ICE Futures Europe.
8:37 a.m. Oct. 12, 2021 - By Myra P. Saefong
Gold futures settle at highest in nearly a weekGold futures to mark their highest settlement in almost a week after the is losing momentum and slightly lowered its economic growth outlook for this year. "Any data indicating economic slowdowns, including the IMF's latest update, are generally good for gold in that they imply further easy-money policies from central banks," said Brien Lundin, editor of Gold Newsletter. "That said, most of the IMF's downgrade was due to low-income developing countries, which aren't generally big demand sources for gold," he said. "In short, while the news is helping gold today somewhat, it shouldn't imply much of an effect on demand going forward." December gold climbed by $3.60, or 0.2%, to settle at $1,759.30 an ounce. Prices for the most-active contract marked their highest finish since Oct. 6, FactSet data show.
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