Gold climbed to a 7-week excessive on Friday, its first month-to-month acquire in Four-months, as buyers sought the protected haven after U.S. president Trump threatened tariffs on imports from Mexico.
In the meantime oil slumped over three% on Friday and posted its greatest month-to-month drop in 6-months, after U.S. president Donald Trump stoked world commerce tensions with Mexico, a key U.S. commerce accomplice and a serious provider of crude oil.
Brent futures posted a 13.eight% slide in Could and WTI a 16% drop, the greatest month-to-month fall since November.
Hedge funds and cash managers minimize their internet lengthy U.S. crude futures and choices positions within the newest week, and elevated their internet lengthy positions in Comex gold.
The place are commodity costs heading subsequent? Watch Phil Carr at The Gold & Silver Membership assessment Gold, Silver and Crude Oil with the newest value forecast and predictions: