MARKET COMMENTARY

West African Resources shares climbed 5.4% to A$3.69 on Friday without a company announcement, while the gold miner remained below its 52-week high and analyst target.

Oil prices rose to a nine-month high as Asian stocks took a beating and social unrest in Egypt led to uncertain global economic outlook. The sell-off in Asia and Australia ensued after President Mohammed Morsi of Egypt held on to his position despite calls for a resignation. The army had also threatened the President that it would consider the constitution null and void.

By Greg PeelNo one wants the US dollar to cease being the world's reserve currency ? at least not just yet.

Prepared by Jamie Saettele, CMTWeakness is not clearly impulsive but respect potential for another down leg in the yellow metal.