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Gold Market Wire
News, analysis and commentary for gold traders and investors
Crude Oil Update
Crude Oil Meanders
August 3, 2022 - (Gold Market Wire) - Crude Oil continues to revolve around the $100/bbl for Brent as the market seeks to break the down trend. Our late-July breakout didn't hold - but we didn't have a massive sell-off either. The market is nervous.
The Pelosi visit to Taiwan hasn't set the market elite - yet - but, China now must respond, or lose face. Losing face doesn't go down well in Chinese culture, so we'd expect some kind of serious response before long. It's tough to shed length under such scenarios.