Gold Climbed Higher as Talks of “Gradual” Tax Cut Approach Pressured USD and Yields

Oil prices extended gains with the Brent crude contract closing above US$ 60/bbl for a second day. Traders remained thrilled by support from Saudi Arabia and Russia of extension of the output cut deal. The front-month Brent contract climbed +0.76%, while the WTI contract was up +0.465, for the day. Precious metals recovered on bargain hunting.

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