• US indices mixed in volatile session
• Gold trading around $1700 an ounce
US indices are trying to recover early losses. Amazon and Netflix are one of the top performs. However energy shares plunged after the May future contract for WTI crude which expires tomorrow, fell more than 50% to a record low and the new benchmark contract, for June, dropped over 8% amid signs of sustained oversupply for the next couple of months at least. Investors are concerned that storage facilities in the US, especially at Cushing, Oklahoma, will run out of capacity. Markets also have doubts regarding Trump administration's plans to re-open the economy as the coronavirus pandemic showed no signs of easing. During today’s session. Dow Jones dropped 0.81%, S&P 500 lost 0.34% and Nasdaq rose 0.35%. Crude Oil dropped to9.55 USD/Bbl
Gold prices went higher today and tested $1,700 level as investors are concerned whether the rally in equities can be sustained. Also the situation on the oil market support safe-haven assets. Silver futures gained 1.9% to $15.78 an ounce and platinum futures advanced 1.9% to $800.40. Platinum price rose thanks to positive news from the global auto industry: Germany’s Volkswagen (VOW1.DE)) and Daimler (DAI.DE) both reopened some factories today. German government also allowed car dealerships to reopen for the first time in over a month.
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