Commodities Daily Forecast – November 16, 2017

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Published: Nov 16, 2017, 08:23 GMT+00:00

Gold Gold has been under pressure through the early part of the Asian session, down 0.1% at $1,276.80 though direction through the day will be hinged on

Gold

Gold has been under pressure through the early part of the Asian session, down 0.1% at $1,276.80 though direction through the day will be hinged on today’s Senate vote on the tax reform bill and whether the European and U.S equity markets can shake off the negative sentiment and follow the Asian markets into positive territory through the European and U.S sessions…Read More

Silver

Silver fared somewhat better than gold through the Asian session, up 0.02% at $16.98 as it looks to recover to $17 levels, though being able to hold on will depend on market risk appetite through the day, not to mention Capitol Hill…Read More

WTI Crude Oil

Oil prices have steadied following the steep declines this week as the markets now look towards OPEC’s November meeting. U.S shale production forecasts have been quite damming on crude this week, with last week’s inventory and production numbers out of the U.S also bearish. With the IEA revising down demand, whilst revising upwards its outlook in U.S production, OPEC and Russia may need to do more than just extend the agreement…Read More

Natural Gas

Gas eased slightly through the early part of the day, down 0.16% at $3.08. Weather conditions continue to keep prices range bound, with any upside now dependent upon the forecasted cold weather in the U.S arriving within the next week. Should the cold front miss, it’s likely to be quite negative with warmer weather on the horizon. It’s a long time for the markets to wait and there are unlikely to be any major moves between now and next week …Read More

About the Author

Bob Masonauthor

With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.

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