Weekly Fundamentals - Gold Hits All-Time Highs, Again and Again
BonTradeThe commodity market experienced huge volatility last week. A series of factors sent prices to diverging directions. Earlier in the week, the IMF revised down its growth forecasts for the US, Japan and the UK while leaving global GDP forecasts unchanged. The world lender warned that risks posed by disruptions on oil production and surges in oil prices on global economic growth are skewed to the downside. It comments were echoed by the International Oil Agency (IEA) which stated that oil prices above 100 would hurt demand. Oil was dumped earlier in the week but then recovered after a report saying Saudi Arabia has cut production this month, reversing the outputs it increased to offset Libya's oil in March.
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Weekly Fundamentals - Gold Hits All-Time Highs, Again and Again
