Forecasts & Analysis |

It is possible for the market to find near-term support, but remain rangebound if November ends up warmer than normal.

The bears took hold of prevailing macros that continually disrupt the fragile energy market negatively amid rising cases of COVID-19 infections.

Prices hold support

Prices edge higher for the week

The risk of either debt crisis or inflation outbreak to devalue the indebtedness should support the demand for gold as a safe-haven and as an inflation-hedge.

USD/CAD continues to trade near the support level at 1.3135.

Oil continues to trade above the $40 level despite worries about the pace of demand recovery and rising production in Libya.

Silver failed to settle below the support at $24.55 and tries to gain upside momentum.

Gilead Sciences said that the U.S. Food and Drug Administration has approved the antiviral drug remdesivir for the COVID-19 treatment, sending its shares up about 6% in pre-market on Friday.

American Express reported a lower-than-expected profit in the third quarter as people cut on their spending given the income and job uncertainty due to the COVID-19 led economic recession.