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Gold and coffee enjoy a break while oil slips again

Weaker bond yields, the stabilising dollar and the uncertainty over Greece have all added support to gold this week. Saxo's Ole Hansen says the dovish FOMC statement on Wednesday helped. In the coming days Greece will become more of a focal point. The strengthening dollar though is a risk.

Moving on to crude and yet again oil is struggling to find any positive drivers this week. US inventories and production levels are still rising. Meanwhile Libyan exports are at a four month high. And refineries in Europe and Asia are heading into maintenance.

Arabica coffee has seen an almost 10% rise this week. Hansen says the technical target for May could be 155 cents/lb. He warns that the Brazilian Real is at a 12 year low which is having an adverse affect on the price of the bean.

02:52 minutes
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