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STEPHEN INNES
More COVID-19 relief programs pushed the yellow metal’s appeal up as an inflation hedge.
Brent oil futures gained 0.68% to trade at $56.28 a barrel adding to yesterday's 2.1% gain.
Brent oil crude futures gained 0.40% to trade at $54.95 while WTI futures were dropped 0.23% to trade at $52.30 a barrel.
Gold futures were up 0.38% at $1,836.80/ounce after hitting the lowest point since December 2 yesterday
Sixty (60) equities appreciated at price during the week, higher than fifty (50) equities in the previous week.
Brent crude futures dropped about 1%, to $54.65 a barrel, after losing 2.3% on Friday.
Gold futures prices at their most recent trading session settled at $1,829.90 an ounce, down by 1.2%.
Oil prices were under pressure on fears of recent lockdown measures sighted in China.
Oil prices are under pressure, and recent customs data reveal that crude imports into China were up 7.3% in 2020.
The U.S. Dollar Index which tracks the greenback against a basket of major currencies inched up 0.05% to 90.4020.
Oil traders are now weighing the ever-rising number of COVID-19 cases and the impact on global energy demand.
Both major benchmarks traded above the $50 mark and are trading at their highest levels since February 2020.