Oil futures turned higher for a third straight day, as the commodity was buoyed by positive U.S. manufacturing data and a slouching greenback. While equities rallied, November-dated crude bumped up 29 cents, or 0.3%, to close at $92.48 a barrel.
The upbeat manufacturing report also boded well for gold futures, lifting the commodity to its loftiest price since March. A weaker dollar, as well as comments by Federal Reserve Bank of Chicago President praising the latest round of QE3, solidified gains for the precious metal. Against this backdrop, gold for December delivery gained $9.40, or 0.5%, to settle at $1,783.30 an ounce.
Levels to watch in trading...
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Recent XIV Action May Bode Well for Bulls
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