Spot Gold recovers Oil turns bullish on OPEC outlook: DGCX

Gold
Spot gold +0.2 % to $1,653.60 after dropping to one month low of $1,639.45 yesterday.?? Silver gained 0.3 % to $31.2169, rebounding from a one-month low of $30.5875 reached yesterday. Spot platinum gained as much as 0.6 % to $1,728.75. 1 ounce of platinum bought 1.0466 ounces of gold today.

-Platinum up on concern supply will tighten
-Zimbabwe seized land from the country's biggest miner of the metal.
-Palladium climbed to the highest level since Palladium assets in ETP held at an 18-month high of 65.0744 metric tons yesterday.?

Foreign Exchange
The yen held firm on Wednesday, USD fell to around 93.27 yen from a near 33-month high of 94.41, while the euro shed more than one yen to as far as 125.00. They were 93.45 and 125.80 respectively. EURO rose and was at 1.3445.

-Yen Strengthens before G-20 Leaders Meet to Discuss Currency and vow to fight devaluation wars
-Bank of Canada Governor Mark Carney said major industrial nations will pressure other Group of 20 ??economies to refrain from targeting exchange rates
-CAD Rises from February Low as Oil Discount Shrinks
-GBP falls second day against Euro on opinion that BOE to Cut Forecasts on inflation and growth
-U.K. Says G-7 Statement Not About Individual Currency, Country
-AUD Rises as Gain in Consumer Confidence Pares Rate-Cut Bets

Copper
Copper was little changed on Wednesday, underpinned by growing hopes China's consumers will restock after the lunar New Year. Holidays this week in the top consumer of the metal drained liquidity and momentum from the market.??? Three-month copper was up slightly at $8,243.50 after having dropped 0.7 % in the previous session.

Oil
Oil prices rose on Tuesday as OPEC raised the outlook for the amount of crude it will need to pump this year to keep supply and demand in balance.??? Brent crude rose 12 cents to $118.25 a barrel by after settling down 77 cents on Monday.??? U.S. crude was up 46 cents to $97.49 a barrel.

Source: http://www.commodityonline.com/futures-trading/market-report/Spot-Gold-recovers-Oil-turns-bullish-on-OPEC-outlook%3A-DGCX-29440.html

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