Gold, Copper and Crude Oil Briefing
$GLD, $CU, $USO, $OIL
On the Close Thursday: WTI Crude Oil +0.4% at 71.37 bbl Gold +0.7% at 1322.50 oz Copper +1.6% at 3.11 lb
Crude Oil prices are up here for a while it seems, as the impact of US sanctions on Iran will be felt into the end of Y 2018, now working on Y 2019 forecasts.
From a geopolitical perspective combined with continued OPEC compliance, the path of least resistance looks North.
A weaker USD and perceived geopolitical risk have driven Gold higher overnight.
Some see the middle east ready blow up again, I do not see that.
The US CPI headline suggest that the Fed will maintain a dovish pace of interest rate normalization, which is providing some shine to the Gold market in here.
Have a terrific weekend
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Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.