Commodities Daily Forecast – May 1, 2017

By:

Updated: May 1, 2017, 10:23 GMT+00:00

Gold Over the weekend there was the news of further missile testing by North Korea which seemed to infuriate Trump even more. Already, he had been railing

Gold

Over the weekend there was the news of further missile testing by North Korea which seemed to infuriate Trump even more. Already, he had been railing against North Korea but this time, it seemed to have little effect on the gold prices as this increase in risk failed to get in new buyers for gold. …Read More

Silver

The instrument tried to make a climb on Friday but it did not last long as the sellers again came down hard on the silver prices and pushed it towards $17 where a lot of support is expected. A push through $17 could open up $16.5 but we believe that the sellers are nearing their end. …Read More

WTI Crude Oil

The prices were in a consolidation mode over the past couple of days as the market and the traders continue to search for direction in the lack of any fundamental news that would drive the prices one way or the other. The increase in production is tending to push the prices down while the hope that the production cut deal would last for the year is helping to hold up the oil prices. …Read More

Natural Gas

The prices continue to consolidate and hold steady for the major part of the day on Friday. This month is a shoulder month where the demand and the production is likely to be lesser than during the winter and summer months and so more of consolidation and ranging is expected. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.