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

Phil Carr The Gold & Silver Club

Gold rose on Monday back above $1470, erasing losses from earlier in the session on fresh doubts over a U.S.-China trade deal.

Traders now await minutes of the U.S. Federal Reserve's last policy meeting, due on Wednesday, for clues about the future interest rate trajectory.

Investors also kept a close eye on developments in Hong Kong, with police on Monday trapping hundreds of protesters inside a major university.

Among other metals, silver gained 0.5% to $17.03 an ounce, while palladium rose 2% to $1,707 an ounce. Platinum was up 0.5% at $895 extending gains for a fourth straight session.

Oil prices eased on Monday, giving up some of last week's gains and pushed lower on uncertainty over a trade deal between the United States and China.

Expectations of lower seasonal demand for gasoline in the U.S. also weighed on oil prices.

OPEC and its allies are expected to discuss output policy at a meeting on Dec. 5-6 in Vienna.

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.

EUR/USD clings to daily gains, still below 1.1900

EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.

GBP/USD picks up pace, hits 1.3640

GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.

Gold stays offered below $5,100

Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.