Research

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Daily Resources Overview - 05 Dec 2016

 

Goldprices bounced back (+0.7%) from 10-month lows hit earlier in the week despitethe release of positive US employment data. US non-farm payrolls increased by178,000 in November and the unemployment rate fell to 4.6% -  the lowestlevel in nine years => a US interest rate hike is almost a certainty nextweek when the Fed meets on 13 December.

Italianshave been voting in large numbers in a referendum which is beingclosely watched for further signs of anti-establishment in Europe Voting endsat 22.00GMT (9.00am AEST). Prime Minister Matteo Renzi has said he will resignif the “No” vote wins the referendum. Political instability in Italy couldmake it harder for Italy’s stressed banks to get refinancing. Pollsindicate the “No” will win.

December WTI crude rose$0.62, or 1.2%, to US$51.62 a barrel - the highest settlement since July, 2015 - after the White Housesaid President Obama is expected to sign legislation that would extendsanctions against Iran for 10 years. The U.S. put three more oil rigs back towork last week. That brought total active rigs to 477, the most since lateJanuary.
 
5/12/2016 10:00:00 AM

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