Both crude oil and gold futures fell as the unexpected news of hike of interest rate in India came through along with the signs of an unlikely help from European Union for the severely debt ridden Greece.

The light, sweet crude oil futures slated for April delivery saw a decline of 2.3% at the New York Mercantile Exchange, valued at a lower rate of $78.83. This is the lowest that the futures have traded since beginning March. Even the May contract for light crude is down 2.2%. [Read more…]