Gold is moving in correlation with Oil now, it is also moving at the whims of the dollar . With the delcine in crude oil yesterday , gold also declined in the Asian market as it was being used as a hedge against inflation as gold can hold its value better than other assets when inflation accelerates. With the likely cuts in oil supply by Venezuela and Nigeria, nt effecting the global supply has kept the oil low yesterday ..... let's see if oil goes even lower than $60.22 a barrell today or not.
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