Commodities Brief – Precious metals rebound off European lows

FXstreet.com (Barcelona) - The yellow metal was edging lower off its session highs (1476) ahead of the publication of GDP in the United States Friday. However, on the heels of mixed results, gold prices have once again rebounded, trending upward back to USD $1470.20 per oz. in these moments. Prolonged stability above the 1470 resistance and upside target could extend the bullish recovery into next week.

Silver recovers lost ground
Silver managed to get an early jump and top out at earlier today at 24.40, however subsequent gains were erased during European trading, culminating in a brief drop below the 24.00 level. However, since the release of GDP, spot prices are back on the rise, operating at USD $24.14 per oz. during US trading Friday.

Crude holds above the 93.00 level
WTI Crude Oil has been trading above the 93.00 level during European trading, flexing its muscles after an early week setback that mired the commodity in bearish pressure. During US trading, crude prices have pulled towards the USD $93.15/bbl figure in these moments.