Oil futures rose in the early part of Asia’s Wednesday session as
traders showed signs of nibbling at riskier assets on news the U.S.
House of Representatives plans to vote on the Senate’s legislation to
avert the fiscal cliff.
On the New York Mercantile Exchange,
light, sweet crude futures for February delivery added 0.15% to USD91.95
per barrel in Asian trading Wednesday. The gain homes on the heels of
0.52% pop in Monday’s U.S. session, though West Texas Intermediate
futures finished with an
Gold futures were seen slightly lower in the early part of Wednesday’s
Asian session as trading resumed following the New Years holiday with
market participants focused on ongoing fiscal cliff negotiations in the
U.S.
On the Comex division of the New York Mercantile Exchange,
gold futures for February delivery fell 0.1% to USD1,674.05 per troy
ounce. Gold traded as high as USD1,675.05 per ounce and as low as
USD1,670.95 in Asian trading Wednesday.
Gold futures were likely
to test support USD1,654.15 a troy ounce, Friday's low, and resistance
at USD1,724.75, the high of Dec. 12. The yellow metal is coming off a
