Oil & Gold Futures Higher Today
Commodities have been trending slightly higher today in the futures markets after a steep sell off over the last month. Crude oil futures have appreciated around 61 cents, or 0.86%, to $71.80 per barrel. Gold futures have risen $12.40, or 1.18%, to $1,065 per ounce on the trading session.
Both oil and gold futures have been under pressure recently, in part, because of a strengthening U.S. dollar. Worries about tightening lending standards in China have also taken a toll on the entire commodity complex. It remains to be seen if the sell off has more momentum to the downside, or if this is the time to get back into these markets on the long side.
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