Week ahead commodity report: Gold, Silver & Crude Oil Price Forecast: 13 - 17 January 2020 [Video]
|Gold rose to a near 7-year peak of $1,610 last week after a U.S. drone strike killed a top Iranian commander in Baghdad and Iran launched missiles against U.S. bases in Iraq in retaliation.
The rally, however, faded with a lack of further military escalation in the region.
The United States imposed more sanctions on Iran on Friday and vowed to tighten the economic screws if Tehran continued "terrorist" acts or pursued a nuclear bomb.
On the technical front, gold found support at level of $1,546.50 before retracing back to $1556.
Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold, Silver and Crude Oil with the latest price forecast and predictions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.