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Commodities Daily Forecast – June 16, 2017 – FX Empire

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Gold

Gold prices continue to drop for the second straight day as they head towards the next support target of 1248 in the short term. A break of that would open up the familiar support of 1220 as well but before that, we believe that there would be a short bounce towards 1260 again before the downtrend resumes. Read More…

Silver

Silver prices also continued to drop, in line with the gold prices, as the investors continued to pull out the funds from safe assets like gold and silver after the rate hike announcement from the Fed on Wednesday. This is likely to keep the pressure on the silver prices in the short term. Read More…

WTI Crude Oil

The prices traded near the lows of the range as the buyers and sellers are locked in a tense battle in a support region which has managed to hold the prices for the past year or so. Everytime we have been here in this region, the prices have bounced and it remains to be seen whether it will hold true this time as well. Read More…

Natural Gas

The gas prices untagged themselves from the oil prices as the prices jumped by over 4% on the back of reports which showed a build in inventory that was less than what was expected. The gas prices finally seem to have found support in this region which should keep it buoyant in the short term. Read More…