US stocks finished lower after a choppy session while Asian markets were mixed today. European markets are mixed today after the European Commission cut their 2014 growth forecast for the Eurozone.
Oil continues to drop and is currently trading at a 3 year low. The drop came after Saudi Arabia cut its prices for exports to the US by $0.45/barrel. The decision came after exports from the country dropped to a 4 year low. The market seems to be over supplied and demand is on the downside and the stronger Dollar is also impacting prices.
Gold is ranging around a 4 year low. The metals safe haven appeal has subsided as data from the US has shown an improving outlook and boosted speculation that the Fed could raise interest rates sooner. As the Dollar reaches new highs and data continues to be positive the outlook for Gold looks bleak. However, in the short term physical demand could increase as the price is so low.
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