Author: CurtisHutchens

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GoldSeek Radio – July 6, 2019 [Dr RON PAUL & ARCH CRAWFORD] weekly

Sentiment was mixed following China’s RRR cut and ECB’s announcement that it was no longer accepting Greek government guaranteed debt. The greenback strengthened, partly driven by firm US data and partly due to weakened developments in its counterparts. In the commodity sector, crude oil slumped as US crude inventory soared to record high while distillate stockpile increased for the first time in 3 months.

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Further Inventory Increase Weighed on Crude Prices

Crude oil remained under pressure ahead of US opens. Concerns over the demand outlook have sent the WTI crude contract to a 6-month low and the Brent crude contract to a 4-month low. Retaliatory bans on certain products from the US and EU by Russia might weigh on economic recovery.

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Signs of Gold Reaching a Trough?

Wall Street dropped as Ukraine crisis intensified with Russian President Putin ordering his government to investigate retaliatory sanctions against the EU and US. Meanwhile, there have been signs that Russia was again building up of Russian troops along Ukraine’s border. Upbeat US data was another reason sending stocks lower.

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Sentiment Dampened as Ukraine Crisis Escalated