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

Phil Carr The Gold & Silver Club

Gold rebounded on Monday from a 4-month low as investors resumed trading after the Easter holiday, with Platinum hitting its higest level in a week at $1906 and Palladium gaining 1% climbing to 2-week highs at $1409, putting Palladium on track for its best week in seven.

Meanwhile Oil prices rallied 3% on Monday to their highest since late 2018 as the United States was set to announce that all imports of Iranian oil must end or be subject to sanctions

Hedge funds and money managers raised their net long U.S. crude futures and options positions in the week to April 16 and switched to a net short position in COMEX gold in the week to April 16.

Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold, Silver, Platinum 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.

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.