Gold Rebounds From Multi-Month Lows

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1. Gold Rebounds From Multi-Month Lows

Gold prices rebounded on Monday from near four-months trough hit in the previous session as investors resumed trading after the Easter holiday. The noble metal gained further traction on higher crude rates, XAU/USD was last seen trading 0.2% higher at 1277.68 as of 7:18 GMT.*

 

 2. Oil Prices Rally As U.S. Prepares To Tighten Iran Sanctions

Brent and U.S. crude futures surged to nearly six-month highs on news reports that U.S. Secretary of State Mike Pompeo will announce “that as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate.” CL_BRENT was last seen trading 2.7% , up higher, up $1.94 at $73.91 as of 7:20 GMT while Crude WTI (USOIL) was last seen trading at $65, up 2.5 percent or $1.61 from its last settlements

 

3. Dollar Firm In Thin Post-Holiday Trade

The US dollar edged up against key peers such as the euro and the yen on Monday, boosted by the relative strength of the U.S. economy. Today the USD opened higher against its peers but lost some steam against the Canadian dollar following a rise in crude oil prices. Trade will remain thin today as major markets remain closed for Easter Monday. This week traders will focus on the US GDP on Friday at 12:30 GMT, the BOC Interest Rate Decision on Wednesday at 14:00 GMT and the BOJ Monetary Outlook report on Thursday. Market consensus points to a no change in BOC and BOJ rates as central banks continue to adopt a dovish rhetoric on global growth concerns.***

 

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Sources:
*CNBC, April 22, 2019 2:48 AM ET
*Forbes, April 22, 2019 3:53 AM ET
***Reuters, April 22, 2019 03:07 AM ET

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