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.
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