Phil Carr
The Gold & Silver Club
Gold paired losses on Friday, after falling 1%, as investors opted for the safety of the yellow metal following reports the United States is considering delisting Chinese companies from U.S. Stock Exhanges.
Global central bank easing, the U.S.-China trade war, economic growth concerns, geopolitical tensions in Mideast and other places, continue to provide investment demand for gold.
Hedge funds and money managers raised their bullish positions in comex gold and reduced bullish bets on silver contracts in the latest week.
Meanwhile oil prices fell on Friday and posted a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about Global Crude demand amid slowing Chinese economic growth.
With Money Mangers cutting their net long U.S. Crude futures and options positions in the latest week.
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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EUR/USD stays near 1.1350 after mixed EU data
EUR/USD remains on the back foot, trading near 1.1350 in the European trading hours on Tuesday. The data from the Eurozone showed that Industrial Production expanded by 1.1% in February. On a negative note, ZEW Survey - Economic Sentiment slumped to -18.5 in April from 39.8.
GBP/USD battles 1.3200 after UK jobs data
GBP/USD is defending minor bids near the 1.3200 mark in the early European session on Tuesday. The latest data from the UK showed that Unemployment Rate steadied at 4% in the quarter to February while Average Earnings disappointed, weighing negatively on the Pound Sterling.
Gold price bulls retain control amid trade jitters, Fed rate cut bets and weaker USD
Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Tuesday and currently trades around the $3,230 area, well within striking distance of the all-time peak touched the previous day.
Canada CPI expected to hold steady in March ahead of BoC policy decision
Statistics Canada will release the March Consumer Price Index report on Tuesday. Annualised inflation is expected to have held steady at 2.6%, matching the February reading. Market players anticipate a monthly advance of 0.7%, easing from the previous 1.1%.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
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