GOLD The strong US jobs figures released on Friday have added more fuel to the rally on stocks, keeping alive the risk on scenario that has prevailed over the last few weeks. Negative rates now seem less likely and the gold price has declined below $1,700 as investors are seeing less urgency of adding yellow metal to their portfolio while there is still appetite for shares.
OIL The oil price has started the new week in green as investors are celebrating the deal reached by OPEC+ over the weekend. The WTI price for both July and August expiry has now reached and surpassed the psychological threshold of $40, while the general sentiment remains positive as markets are betting on a quick recovery of economies and with it a return to the pre-lockdown global oil demand.
Chief analyst at ActivTrades and technical analyst for Italian newspaper 'La Stampa'. Carlo Alberto provides regular commentary for UK outlets including the BBC, Telegraph, the Independent Bloomberg & Reuters. He is also a weekly commentator for CNBC Italy and a columnist for La Stampa. He worked for Bloomberg as their Equity Research Fundamental Analyst before joining brokerage ActivTrades in 2011 to specialize in currency markets and commodities. In 2014 he published a 250-pages book on gold and the gold market, followed in 2018 by a new updated edition.
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© 2019 High Leverage FX - All Rights Reserved.