JP Morgan signaling a potential sell-off

On Thursday Gold weakened while the popular greenback floated near a 60-day top. In the meantime many traders secured their profits before the major central bank gatherings this month. The European Central Bank will meet today. On Thursday the U.S. dollar went near a 60-day top versus a box of important rival currencies. A more robust dollar forced gold to become more expensive for owners of other currencies.

Spot gold fell 0.2% to $1,422.79 per ounce, while U.S. gold futures fell 0.1% to $1,422.89.

On Thursday Oil went up due to increasing Middle East pressures but also after U.S. crude stocks fell more than anticipated. However, profits were stemmed by a weak interest outlook due to strong indications of a possible global economic growth retraction.

U.S. West Texas Intermediate crude increased about 18 cents to $56.05 a barrel, having dropped more than 1.5% in the previous session.

Brent crude futures climbed more than 16 cents, to $63.34 a barrel after falling 1%.