Phil Carr
The Gold & Silver Club
Summary
Join professional traders Phil Carr and Nik Kalsi of The Gold and Silver Club as they review the latest developments in the commodities markets and analysis the week’s performance. This live session will cover: · End of week summary for Gold, Silver and Oil · The top trades of the week · Live market commentary and technical analysis · Week Ahead: Key events looking forwardLatest Live Videos
Editors’ Picks
Gold shifts its attention to $5,600 on fligh-to-safety mood
Gold climbs to levels last seen in late January past the $5,400 mark per troy ounce on Monday. The yellow metal’s strong uptick remains fuelled by incresing geopolitical tensions in the Middle East and the consequent demand for safer assets.
Oil surpasses the $72.00 mark, fresh multi-month highs
Crude oil prices kicked off the week with a sharply bullish gap, with WTI climbing to its highest level since June north of the $72.00 mark barrel, always amid mounting geopolitical risk following US and Israeli military strikes on Iran and the effective shutdown of the Strait of Hormuz.
EUR/USD challenges 1.1700, six-week lows
EUR/USD remains under heavy downside pressire in quite a dfrreadful start to the new trading week, putting the 1.1700 support to the test amid the marked rebound in the US Dollar. The flight-so-safety environment continues to support the Greenback following the escalating conflict in the Middle East.
Bitcoin on brink of breakdown amid US-Iran war
Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.
The week ahead: Conflict in the Middle East jolts markets
Events in the Middle East are obviously dominating financial markets this morning. The Brent crude oil price is extending gains and is higher by more than 8%, stock futures are pointing lower and the gold price is higher by more than 2%.
Here is what you need to know on Monday, March 2:
Safe-haven flows dominate the action in financial markets to start the week after the United States and Israel carried out a coordinated attack on Iran over the weekend. The US economic calendar will feature the Institute for Supply Management's Manufacturing Purchasing Managers' Index data for February later in the day but investors will remain focused on headlines coming out of the Middle East.