Gold hit 14-month highs on Friday, its highest since April 2018 as politicial tensions in the Middle East and weak economic data from China and the United states pushed it above $1,350 per ounce.
Meanwhile Oil prices rose 4% after attacks on two oil tankers last week, raising concerns about potential supply. The Unites Sates blamed Iran for the attacks, despite Tehran denying involvement.
Hedge funds and Money Mangers raised their net long positions in Comex gold in the latest week and cut their bullish bets on Crude Oil.
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:
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