Dhaka, Bangladesh (BBN) - Oil prices rose on Monday after comments by Saudi Arabia about consumers tolerating oil prices as high as USD 90 a barrel.
Continuing an up-trend, oil reached fresh six-month highs near USD 86 a barrel on Thursday, as USD weakened after the Fed’s plan to buy debt. Gold prices edged lower on Friday, as investors stayed cautious ahead of US third-quarter GDP data and Fed's meeting.
Oil prices fell on Friday after data showing tepid US economic growth in third quarter, a weekly review report said.
Gold jumped to a two-week high and silver hit a fresh 30-yr peak above USD 25 an ounce on Monday as investors expected more declines in USD anticipating the Fed to shore up the economy.
On Thursday, USD slipped after the Fed unveiling the new bond-buying program, pushing US gold futures up and silver surmounting the previous peak (hit on Monday).
BBN/SSR/AD-06 Nov10-11:25 am (BST)