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Trading news
7 Nov 2017
Commodities outperformed most sectors on Monday - UOB
Analysts at UOB Group noted that commodities outperformed most sectors on Monday, with oil and metal prices both posting sharp gains by Europe’s close.
Key Quotes:
"Oil prices surged to the highest levels in more than two years after the Saudi crown prince purged a number of princes and ministers.
The international benchmark Brent crude topped $64/bbl, whilst US crude broke above $57/bbl. Gold rose more than 1 percent on Monday, extending gains as geopolitical risks drove investors to safe-haven assets after the metal’s third-straight weekly decline. The weaker US dollar also boosted gold prices."