Gold crosses USD 1,000 per ounce, crude oil USD72.28 per barrel

Dhaka, Bangladesh (BBN) – Crude oil traded near USD 72.28 per barrel after the US Energy Department reported that crude stockpiles dropped to 332.8 million barrels, the lowest level since January.

Oil future prices gained on a weaker US dollar and the advance of global equities spurring expectations of improving fuel demand.

Gold futures advanced to USD 1,021.15 per ounce this week as signs of a recovering global economy spurred demand for precious metals as a hedge against rising inflation. Silver prices crossed the USD 17 an ounce, according to reports.  

Copper declined as stockpiles in Shanghai climbed for the seventh week to a two-year high of 97,396 tons. Copper futures declined from above the USD 6,400 mark last week to USD 6315.25 per ton.

BBN/SSR/SI/AD-18September09-5:28 pm (BST) 

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