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Commodity News

Gold to move in a narrow range in 2017 but could move to $1450/oz in 2018

Gold prices have been on the defensive despite a weak US dollar, quite bizarre given that other commodities have benefitted from the currency induced movement.

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Gold steady, on track for second straight weekly gain

Gold held steady early on Friday and was on track for a second consecutive weekly gain after easing from a three-week high hit in the previous session.

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Goldman shocks OPEC again, says oil prices could plummet below $40 a barrel

OPEC needs to “shock and awe” the oil market for prices to gain, according to Goldman Sachs Group Inc. The Organization of Petroleum Exporting Countries must increase output cuts aimed at shrinking a global glut with little public announcement in order to jolt investors, the bank said in a July 10 report.

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Crude oil prices firm, set for biggest weekly gain since mid-May

Crude oil futures on Friday were on track for their biggest weekly gain since mid-May, ending five weeks of losses with prices underpinned by a decline in U.S. output.

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