Phil Carr
The Gold & Silver Club
Gold fell on Friday after hitting 6-year highs off $1557 per ounce earlier in the week as upbeat remarks from Federal Reserve Chair Jerome Powell offset a weaker-than-expected U.S. nonfarm payrolls report.
Hedge funds and money managers upped their bullish positions in comex gold and silver contracts in the latest week with gold rising 17% so far this year.
Meanwhile oil prices rose above $61 a barrel on Friday after the head of the U.S. Federal Reserve said the central bank will act as appropriate to sustain an economic expansion.
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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