Analytics, News, and Forecasts for CFD Markets: raw news — 24-06-2014.

West Texas Intermediate and Brent crudes rose, approaching nine-month highs, as an al-Qaeda offshoot consolidates its control over areas of Iraq, OPEC's second-largest producer.

Iraqi forces have been battling the Sunni Islamic State in Iraq and the Levant for control of the Baiji refinery north of Baghdad for almost two weeks. Russian President Vladimir Putin asked lawmakers in the upper house of parliament to rescind approval they granted to use force in Ukraine. A government report tomorrow is projected to show that U.S. crude supplies fell a fourth week.

"The situations in Iraq and Ukraine continue to support the market," said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. "Things were a little overdone so prices retreated yesterday, but that move's run its course. We are going to continue to trade near nine-month highs as long as fears about Iraqi supply remain."

WTI for August delivery rose 23 cents to $106.40 a barrel at 10:37 a.m. on the New York Mercantile Exchange. Futures touched $107.73 on June 20, the highest intraday price since Sept. 19. The volume of all futures traded was 25 percent below the 100-day average for the time of day.

Brent for August settlement increased 31 cents, or 0.3 percent, to $114.43 a barrel on the London-based ICE Futures Europe exchange. Futures touched $115.71 on June 19, the highest since Sept. 9. The contract slid 0.6 percent yesterday, the biggest loss since May 16. The volume of all futures traded was 69 percent higher than the 100-day average.

Gold prices fluctuate, while investors are trying to understand how this precious metal will trade after rising last week.

Gold prices rose to their highest level since April last week. This happened after the Federal Reserve System (FRS) the USA has surprised investors by taking a softer than expected position at its meeting on monetary policy on Wednesday. The upsurge of violence in Iraq has also pushed gold prices to rise. Some investors use gold as a hedge against low interest rates. This metal is also in demand in terms of geopolitical tensions, as investors believe that it holds its value better than other assets.

Since the price of gold rose by 6% from the lows reached earlier this month, some investors decided to take profits, while others reflect on whether to continue the growth of prices.

"The market seems to have confused" - said Peter Hug, director of Kitco Metals. - After the reaction growth last week, traders are trying to understand whether it was the beginning of a new bull market. "

The gold market experienced the 12-year bull market that ended in 2013. This year, gold prices rose by 9.7%.

The cost of the August gold futures on the COMEX today rose to $ 1326.6 per ounce.