Gold finds support ahead of $875, platinum dips overnight |
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London, 30 May 2008 - Risk reduction weighed heavily on the commodities yesterday with the CRB Index falling 2.5% and the GSCI losing 3%. Oil did show initial resilience, with July futures spiking to $133.12 after data showed a drop in US inventories, however selling pressure dragged crude down to $126.62 by the close, a fall of $4.41/barrel. Speculation of a narrowing in the Eurozone/US rate differential, coupled with improved growth data from the US kept dollar sentiment in bullish mood with
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