Gold snaps back after early decline

New York (Nov 14)  Commodities are turning around in what looks more like some Friday profit taking than any kind of a bottom.

Oil is up $1 in a move that makes near-perfect sense — the short trade is crowded and no one wants to be on the wrong side of a headline on Monday morning.

It’s tougher to envision a reason for a squeeze higher in gold as it rebounds to $1172 from as low as $1146. The move isn’t limited to just gold, it goes right across the precious and base metals complex.

Spot Silver jumps 28 cents to $15.82.

Source:  forexlive