Week Ahead Commodity Report: Gold, Silver & Crude Oil Price Forecast [Video]

Phil Carr The Gold & Silver Club

Gold paired losses on Friday, after falling 1%, as investors opted for the safety of the yellow metal following reports the United States is considering delisting Chinese companies from U.S. Stock Exhanges.

Global central bank easing, the U.S.-China trade war, economic growth concerns, geopolitical tensions in Mideast and other places, continue to provide investment demand for gold.

Hedge funds and money managers raised their bullish positions in comex gold and reduced bullish bets on silver contracts in the latest week.

Meanwhile oil prices fell on Friday and posted a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about Global Crude demand amid slowing Chinese economic growth.

With Money Mangers cutting their net long U.S. Crude futures and options positions in the latest week.

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:

Author

Phil Carr

The Gold & Silver Club

Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.

GBP/USD hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold retakes $4,400 as receding Fed hike bets undermine USD

Gold is looking to build on Friday's bounce from the $4,300 neighborhood as reduced bets on an immediate Fed rate hike keep US Dollar bulls on the defensive and support the non-yielding bullion. However, the US-Iran standoff could limit deeper USD losses, warranting caution before positioning for the resumption of the XAU/USD pair's recent uptrend to its highest level since June 5.

BTC/USD price outlook: Bitcoin navigating between arc levels. Potential continuation toward $58,000

Overview: Based on Arc Cycle Analysis applied to the 1D chart, Bitcoin is trading between the 0.5 Arc and 0.618 Arc within the current Arc Cycle. Price has cleared the 0.5 Arc and is progressing toward the 0.618 Arc, suggesting continued movement toward the next Arc boundary. Metric

US Dollar Weekly Forecast: Economic cracks challenge Fed rate bets

It was a strange week for the US Dollar: while the geopolitical situation has remained largely unchanged, with the usual back-and-forth between the US, Iran, and occasional third parties, disappointing domestic data have re-emerged, reducing expectations of potential tightening by the Federal Reserve in the next few months.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.