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Commodities Daily Forecast – July 17, 2017 – FX Empire

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Gold

The gold markets showed an uptrend and closed higher on Friday. The gold prices rose due to a weaker than expected U.S. Retail Sales and CPI index report. The report showed lower results and caused trouble for the U.S. dollar. Hence, a sharp rise was seen in the value of the gold prices. …Read More

Silver

The silver prices went back and forth before moving to areas of resistance. The market seems to have broken through the $16 resistance. Traders should pay close attention to the U.S. dollar as it has a serious impact on the precious metal markets. The direction of the gold markets would also influence the silver prices. …Read More

WTI Crude Oil

The crude oil markets went sideways and found enough resistance before pulling back and bouncing again. With a lot of market volatility, traders should sit aside and keep a watch on the performance of oil markets. Currently, the OPEC (Organization of the Petroleum Exporting Countries) looks to have lost its control over the market. …Read More

Natural Gas

The natural gas markets continued to remain volatile, going back and forth. Though there is a bit of resistance, the markets look confused for now. The oversupply of natural gas continues to be a major problem for traders in this market. Traders could witness a huge sell-off in the markets in the short term. …Read More