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

Phil Carr The Gold & Silver Club

Gold prices steadied last week, crawling higher on Friday after touching a one-week low in the previous session, supported by expectations of monetary policy easing from leading central banks and an imminent interest rate cut.

Oil prices also inched up on Friday, ending the week higher as concerns over the safety of oil transport around the straight of Hormuz threathened supply.

Meanwhile hedge funds and money managers reduced their bullish stance in comex gold in the latest week and also cut their net long positions in U.S. Crude futures and options in the latest week.

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 turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.