Gold and Crude Oil Speaking Factors:Crude oil prices held up close to three-month highsCommerce deal hopes, US stock drawdowns an
Gold and Crude Oil Speaking Factors:
- Crude oil prices held up close to three-month highs
- Commerce deal hopes, US stock drawdowns and economists’ upgrades all underpin costs
- Gold is pressured however underlying haven bids endure
| Change in | Longs | Shorts | OI |
| Daily | 7% | -4% | -1% |
| Weekly | -10% | 26% | 12% |
Crude oil costs held on once more near three-month highs on Friday and look set for a 3rd straight weekly acquire as traders nonetheless hope for progress on the US-China commerce entrance.
Progress in the direction of a minimum of an preliminary, Section One commerce settlement has traders betting that 2020 might see higher-than-expected vitality demand. Manufacturing cuts from conventional producers are additionally lifting costs, with this week’s information of stock falls within the US has helped too.
Main banks akin to Goldman Sachs and JP…