Commodities Brief – Gold capped at 1614, silver regains 29.00 level

FXstreet.com (Barcelona) - The yellow metal was seen breaking higher Thursday on the heels of mixed data out of the US, which for the first time in over a week showed some alternative to a largely optimistic view of the economy in 2013. After yesterdays Fed interest rate decision, which offered little to the imagination – interest rates are indeed still pegged at 0.25% – gold prices have been operating positively, and in these moments have settled at USD $1612.27 per oz. slightly off its maximums during US trading. A hold above the 1610 level will be a minor victory for gold bears as they look to target a second consecutive weekly close.

Silver breaks above 29.00
The white metal finally broke though the 29.00 barrier/first resistance, en route to a gain towards the 29.28 mark (intraday maximum). With risk aversion permeating the markets, precious metals have secured gains Thursday during US trading. Silver will look to reach its next upside target at 29.45, a break of which will signal a movement higher. At the time of writing, the price of silver is trading at USD $29.22 per oz.

Crude prices fall below 93.00 mark
WTI Crude prices struggled to hold onto the 93.00 level Thursday, despite the relatively upbeat movement during this week. Once again, the price has fallen below the 93.00 level however during US trading, having settled at USD $92.80/bbl at the time of writing.