Gold Silver Reports → Crude on earth concerns related to excessive supply, but still ended the week up nearly 10% as the prospects of a potential output freeze from four top producers boosted prices from near 13-year lows.
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Gold Comex Support at $1063.20 and Upside Resistance at $1260.80
Gold Silver Reports ~ Gold ticked up on Friday, extending gains from the previous two sessions, in spite of solid U.S. inflation data which bolstered hawkish arguments for accelerated monetary policy normalization by the Federal Reserve this year.
Crude Lock in a $45 Barrel Lifeline for 2017
Gold Silver Reports ⇒ U.S. crudeoil producers reeling from an 18-month price rout have cautiously begun hedging future production this week, fearing this may be their best chance yet to lock in a $45 a barrel lifeline for 2017 and beyond.
Gold Fields Buy $200 Million of Bonds
Gold Silver Reports → Gold Fields Ltd., a South Africa-based miner of the precious metal, offered to buy back $200 million of bonds for 17 percent less than their original value.
Gold Bears for Years Fed off The Prospects
Gold Silver Reports → Gold bears for years fed off the prospects for higher borrowing costs. Now bulls are thriving in a world where negative rates are becoming commonplace.
WTI Crude Oil Rose Above $31.50 Per Barrel
Gold Silver Reports → Crude Oil producers finally considering output adjustments, crude-oil traders are beginning to see the market finally hitting bottom after long, dramatic declines, but the large supply glut may not be so easy to eliminate.
Iran Support Fine Line over Production Freeze
Gold Silver Reports → Iran has expressed trade support for efforts among oilproducing nations to cap output yet stopped short of joining the pact, trying to decide the best way forward as it re~enters the international market.