Trading was choppy once gain, with the S&P 500 briefly trading higher following afternoon comments by Chinese President Xi Jinping that his country was capable of maintaining a relatively high growth rate for a long time.
In an interview to CNBC-TV18, Daniel Morgan, Global Commodity analyst, UBS shares his views on the fall in crude price and his expectations going ahead.
Australia's federal and Queensland state governments are eager to see the mine go ahead following the loss of more than 4,000 coal jobs, and Queensland has said Adani may make an announcement tied to the project when Indian Prime Minister Narendra Modi is in Australia next week.
Fundamentally gold is an inflation hedge and there is not a lot of inflation in developed economies, which undermines the case for gold prices rising further
Daniel Morgan, global commodity analyst, UBS Equities Research says oil price is going to be rangebound for the next 12 to 24 months.