Commodity Update April 12, 2021: Gold Prices Edge Lower on Strong U.S. Economic Data

Commodity update as of 9:30 local time in Thailand on April 12, 2021

 

Crude oil prices continued to trade at the same level since last week where the international benchmark was around $63 per barrel and WTI was around $59 a barrel, pressured by concerns of major producers to increase their output and lower demand in Europe due to the rising Covid-19 cases.

 

Gold prices edged lower, pressured by the strengthening greenback and the U.S. bond yield that maintained slightly higher at 1.6%. Meanwhile, the improving U.S. economic data also caused the price to decline as well.