Oil and gold prices plummet

Matías Salord FXStreet

FXStreet (Córdoba) - Gold and crude oil dropped sharply during the shortened session in the US. Crude oil (WTI) dropped to fresh multi-year lows to $65.65 a barrel and close at $65.99, the lowest since September 2009, dropping 15% over the week; brent barrel fell below $70 for the first time since 2010.

The value of the ounce of gold plummeted after breaking below $1,180 and bottomed at $1,165; the lowest level since November 14. Then rebounded but it was unable to rise above $1,170 and posted the lowest weekly close since May 2010.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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