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Commodities Daily Forecast – July 6, 2017 – FX Empire

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Gold

The gold markets were seen with a gradual recovery after the FOMC Meeting Minutes yesterday. Fed Chair Janet Yellen stated that the weak inflation rate was only temporary and the central bank’s inflation target rate will be revived back. However, with several Fed members worried over the steep decline in the inflation rates, the gold markets look positive for now. …Read More

Silver

The silver markets moved sideways before dropping down significantly to areas of support. The market may likely go down and traders can look for short-term selling on the pair for now. Fed’s interest rate forecasts will have a great influence on the precious metal markets including gold and silver. …Read More

WTI Crude Oil

The Crude oil markets went back and forth during the day before settling for some support underneath. The oil markets fell down with the Russian administration failing to cut the oil production. With the U.S. dollar strengthening, the Brent and Crude oil markets pose a bearish signal in the near term. …Read More

Natural Gas

The natural gas markets rallied during the day before dropping down to significant areas of support. The markets have turned out to very bearish with the oversupply being very strong and major power producers switching to coal instead of natural gas. Hence, the demand for natural gas is going down even further. …Read More