A downward trend in the crude oil prices cushioned the currency
A downward trend in the crude oil prices cushioned the currency
Global prices of precious metal inch closer to $2,100 an ounce
Positive sentiment in the equity markets supported the currency
The precious metal has been in a downtrend, forming a series of declining local highs and lows
Next higher target for the yellow metal is $2,100
DFM up for fourth straight month, up 3.4% to close at 4,308.8 points
The currency weighed down by a volatile equity market and unabated outflow of foreign funds
Globally, oil prices rose by 3.34% or $2.6 a barrel in February 2024 as compared to the previous month
Crude oil prices hovering above $83 per barrel weighed on the currency
The currency stuck in a narrow range and most market participants remained cautious