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Is black gold in the black? – MM #155

Oil is sometimes called “the black gold”, but it’s recent price range is far from being that precious. What’s next? We begin with black gold and move to gold prices, which are lifting their heads of late.

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  1. Oily days: The price of the critical commodity seems to have found its limits, but can it fall too far? On the supply side, we examine the new monitoring mechanism of OPEC and the recent loosening of production. Is demand picking up? Inventories provide a mixed story and the various reports by the agencies are cautious as well. And what about the effect of the US dollar? The inverse correlation persists.
  2. Not  all that  shines is  gold: But gold prices are shining for a while. The precious metal is sometimes seen as a safe haven, a hedge for inflation and what=not, emerged from the range. We discuss its recent moves in light of the North Korean mess.
  3. Preview: The US retail sales are published separately this time, and could provide a bigger excitement than the Fed meeting minutes. The UK publishes key data and German GDP also stands out.

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Trade safely!

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.