Crude Oil Insights Crude Oil, Uncategorized Weak Chinese Imports figures leading to fall in prices

Weak Chinese Imports figures leading to fall in prices

Gold prices fell on Tuesday 10th July 2012 due to a high dollar rate which was in demand by investors who were shaky about global economic prospects. This demand for dollar led to euro falling against dollar to the lowest levels in two years. Investors’ worries were heightened by China releasing weaker than expected imports figures which showed that the economy is slowing its pace.  It is expected that the euro debt crisis will continue having a downward effect on gold prices. Silver prices are also on a falling note so far today.

Crude oil also fell due to pessimistic Chinese data and labor strikes being stage in Norway’s oil industry has come to a stall.

 

Author: Jawwad Farid