Commodities Daily Forecast – April 25, 2017

Gold

Gold futures posted a two-sided move early in the session on Tuesday as investors continued to react a little to the French election results, but mostly to renewed concerns over North Korea.

The focus for gold traders this week is going to be primarily on North Korea. Safe-haven demand is likely to remain strong amid tensions over North Korea’s nuclear and missile program… Read More

Silver

Silver markets had a very volatile session on Monday, as the French election results through a lot of chaos into the marketplace. There was a certain amount of relief, so therefore precious metals sold off during the day.

However, it looks as if there is plenty of support just below, so we had formed a candle that suggests that we have a lot of volatility had of us. If we can break above the $18 level, I think that the market will reach towards the $18.50 level. Selling still will face quite a bit of noise underneath… Read More

WTI Crude Oil

Crude oil prices started Monday in the black, moving higher in the wake of the results of the French Presidential Election which saw investors move into riskier assets.  Crude prices recaptured the 50 handle moving up to 50.22, before moving lower into the close during the North American Trading session. It appears that despite the best effort by OPEC to reduce production beginning in February, the growth in production was so large, that it has taken nearly 3-months to reduce U.S. inventories.  Demand for gasoline remains high, but on a year over year basis, demand has declined, which is taking its toll on gasoline margins.

Crude oil is trading steady this morning at 49.33 a barrel… Read More

Natural Gas

Natural Gas futures continued to slide on Monday, falling to a one-month low and closing in a position to test a key technical support area at $3.120 to $3.048. The catalyst behind the selling pressure was mild temperatures and concerns over low demand.

Pressuring the market has been low demand. This isn’t a surprise, but a seasonal pattern. Demand tends to fall at this time of the year because it’s not too cold for heat and it’s not too hot for air conditioning. The market usually stays in this pattern until the summer returns… Read More