Gold costs jumped 1% on Friday to a 14-month excessive to ranges not seen since April 2018 as a pointy slowdown in U.S jobs development despatched the greenback spinning decrease on rising expectations that the Federal Reserve would lower rates of interest this 12 months.
In the meantime oil costs rose practically three% on Friday, climbing farther from 5-month lows after Sauid Arabia mentioned OPEC was near agreeing to increase an output manufacturing lower past June.
Hedge funds and Cash Mangers lower their web lengthy U.S Crude futures and choices positions within the newest week and raised their web lengthy positions in Comex Gold.
The place are commodity costs heading subsequent? Watch Phil Carr at The Gold & Silver Membership evaluate Gold, Silver and Crude Oil with the newest value forecast and predictions: