This week will be a good week for oil as the expected freeze in output from all major parties is now a lot more close to reality than before and there are even talks about the fact that if IRAN does not rally the group they will go ahead anyways.
Also interesting is the number of US rigs that have been shut down reducing another 200k to 600k barrels per day this year and this should contribute to another good week. I would not be surprise to see oil hovering around 35$ before this week end.
As for gold, it goes with stocks and US dollar value. With the actual economic situation in the US the dollar will continue to be strong and gold will continue to slide a bit toward the 1135 to 1150$.
Stocks should continue to do good this week for investors but volatility is still in the air.
Also interesting is the number of US rigs that have been shut down reducing another 200k to 600k barrels per day this year and this should contribute to another good week. I would not be surprise to see oil hovering around 35$ before this week end.
As for gold, it goes with stocks and US dollar value. With the actual economic situation in the US the dollar will continue to be strong and gold will continue to slide a bit toward the 1135 to 1150$.
Stocks should continue to do good this week for investors but volatility is still in the air.
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