US oil is down in excess of 23% in the last two months as fears of an imminent slowdown in global growth weigh. Wednesday’s EIA report did not help short-term sentiment either.
The risk-on sentiment currently driving the cryptocurrency higher shows no sign of abating with a wide range of coins registering hefty double-digit gains over the month.
The latest US inflation report will be released later in the session and is expected to show that price pressures are easing. Will this be enough to send gold back towards $2,000/oz?