Oil And Gold Analysis

NEW YORK (Oct 21)   CL---Crude Oil advanced after economic growth accelerated in China, the world’s largest oil-importing country, and on speculation the U.S. will maintain economic stimulus. “The market is getting some support from the Chinese economic data and on expectations that the Fed will delay reducing its asset purchases after the recent budget wrangling,” said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut.

 Oil Hour Chart

GOLD
Gold jumped 3.9 percent in the previous two days amid speculation that the Federal Reserve will hold off on scaling back monetary stimulus. Gold has slumped 22 percent this year, heading for the first annual decline since 2000. Some investors lost faith in the metal as a store of value as U.S. equities rallied to a record and inflation remained muted.