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

Phil Carr The Gold & Silver Club

Gold steadied on Friday, helped by a weaker dollar, with uncertainties over Brexit and U.S-China trade keeping gold on track for a small weekly gain.

Meanwhile on Saturday MP’s voted to delay Brexit however the British government insisted on Sunday the country will leave the European Union on 31^st October despite a letter that Prime Minister Boris Johnson was forced to send to the bloc requesting a Brexit delay.

The latest news being that the EU is to grant a three-month Brexit extension if Boris Johnson fails to get a deal through Commons this week.

Meanwhile Oil prices edged lower on Friday but losses were limited on hopes for progress toward a U.S.-China trade agreement and on Thursday it will be a goodbye to Mario Draghi whose eight-year term as ECB chief ends on Oct. 31, handing over to his successor Christine Lagarde.

Hedge funds and money managers cut their bullish positions in COMEX gold and silver contracts in the week to Oct. 15 and cut their net long U.S. crude futures and options positions.

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.

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