Gold did not perform particularly well last week. Signs that the Federal Reserve is going to pause monetary easing and optimism for a trade deal between the United States and China hurt the precious metal. Will it be able to recover this week? This depends on several key factors.
As gold often trades in an inverse correlation to the US dollar, it will react to the same events as the greenback but in the opposite manner.
One of the most important events this week will be the release of the minutes of the Federal Open Market Committee monetary policy meeting in October. The FOMC decided to cut its benchmark interest rate at the gathering but signaled that it does not plan to lower rates further in the near future. Market participants will study the minutes in hopes to find more details about

In the present video, Phil Carr from The Gold and Silver Club talks about gold, platinum, palladium, silver, and crude oil for the week of November 18–22, 2019. He starts the video by the quick reminder of the last week’s price moves and the reasons for them. Phil then explains factors that will be affecting commodity markets this week. He continues the video with charts of the commodities, showing important price levels and speculating about possible moves.

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In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of November 12, 2019. He speculates that the commodity will be likely range-bound in the near future and explains how traders can profit from that. Phil also describes events that will be driving crude this week.

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In the present video, Phil Carr from The Gold and Silver Club talks about gold as of November 12, 2019. He mentions the recent sharp decline of gold prices and speculates whether it is a good buying opportunity for contrarian traders. Phil also explains major factors that will be driving the precious metal this week.

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In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, platinum, and crude oil for the week of October 28– November 1, 2019. He starts the video by mentioning that hedge funds and money managers increased their net long positions on gold, silver, and platinum last week. Phil then proceeds to discuss charts of the commodities speculating about possible moves this week. He also explains what factors will be affecting markets during the week. The most important of them are the FOMC meeting on Wednesday and nonfarm payrolls on Friday.

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A symmetrical triangle pattern has formed on the daily chart of silver, suggesting that prices are likely to resume their movement to the upside after a period of consolidation.
The yellow lines show the triangle itself. The cyan line is located at the 10% of the pattern’s width above the upper side of the triangle and offers an entry point for those traders who are willing to bet on an upside breakout. The green line is drawn at the triangle’s width above the pattern and suggests a profit-taking target.
You can click on the image to see a full-size version:

The chart was built using the ChannelPattern script. You can download a MetaTrader 4 chart template for this silver pattern. You can also trade it using the free Chart Pattern Helper EA.
If you have any questions or comments regarding

A symmetrical triangle pattern has formed on a daily chart of gold. Such pattern occurs when prices consolidate before choosing a direction for movement. Being a continuation pattern, it suggests that prices will resume their movement in the previous direction, though this is not guaranteed.
The present chart describes a scenario when prices resume the previous movement to the upside. The yellow lines show the triangle itself. The cyan line situated at the 10% of the triangle’s width above the upper border of the triangle and suggests an entry point in case of an upside breakout. The green line is situated at the pattern’s width above the triangle and offers a profit-taking objective.
You can click on the image to see a full-size version:

The chart was built using the ChannelPattern

In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of October 15, 2019. He starts the video by discussing the recent performance of the commodity, explaining the reasons behind the rebound of prices. Phil then talks about factors that will be influencing crude this week. In particular, he reminds to watch for US inventories data and to pay attention not just to the headline figure but also to changes in distillates as well.

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In the present video, Phil Carr from The Gold and Silver Club talks about gold as of October 15, 2019. He starts the video by explaining what factors were affecting the commodity lately and also mentioning that hedge funds and money managers increased their net long positions last week. Then Phil explains what events will likely impact the metal in October. He also notes that gold tends to be range-bound in the middle of October and predicts levels that the precious metals may hit during the rest of the month.

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In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of October 9, 2019. He briefly discusses the performance of the commodity lately and then speculates how it will behave this week, predicting range-bound trading but also saying that the risk-reward is skewed to the upside. Phil also mentions factors that will be influencing oil this week.

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In the present video, Phil Carr from The Gold and Silver Club discusses gold as of October 8, 2019. He talks about the previous performance of the metal and speculates what levels prices may hit this week. Phil also explains what events should be affecting the commodity over the week.

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In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, and crude oil for the week of October 7–11, 2019. He starts the video by discussing the factors that were helping gold recently in its role of a safe haven. Phil also mentions that hedge funds and money managers cut their long positions on gold, silver, and crude oil last week. He continues the video by showing charts of the commodities, explaining what factors will be affecting price moves, and speculates how the commodities may perform this week. Additionally, Phil warns about trading too actively on Monday as prices often reverse their movement on Tuesday.

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In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, and crude oil for the week of September 30 – October 4, 2019. He starts the video by recapping the last week’s events and price moves as well as mentioning that hedge funds and money managers increased their long positions on gold but reduced bullish positions on silver. Phil continues then by discussing commodity charts and explaining factors that will be affecting the commodities in the immediate future. He also warns about dangers of trading on Monday, especially during a volatile end of a month, as prices often tend to reverse their movement on Tuesday.

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In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of September 25, 2019. He starts the video by discussing factors that were affecting crude recently, most importantly the attack on Saudi Arabia oil facilities. Phil then reminds traders to watch for supply data from the American Petroleum Institute and the Energy Information Administration this week. He also said that he expects the $60 mark to be a resistance level and that he maintains a bearish bias.

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In the present video, Phil Carr from The Gold and Silver Club answers questions of viewers about silver. The first question: what correlations should traders watch when they are trading silver? The second question: will silver be able to reach the $20 level this week?

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In the present video, Phil Carr from The Gold and Silver Club discusses gold as of September 24, 2019. He starts by talking about the recent rebound of gold prices and explaining the factors behind it. Phil then speculates about moves of the metal this week, predicting range-bound trading during the week.

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Futures for crude oil declined today. One of the major reasons for the decline were reports that Saudi Arabia is restoring its oil production faster than was estimated. Previously, crude rallied on news about an attack on Saudi oil facilities that shut down about 50% of the nation’s output. Experts estimated that it will take months to restore production but Saudi Arabia claimed it can do that much faster. And it looks like the country makes good on its promise.
Market analysts pointed at another probable reason for the crude’s decline — the attack of US President Donald Trump on China during his speech at the United Nations General Assembly as well as his comments that he will not make a trade deal with China if he considers it a bad deal. Crude is often very sensitive to the risk

In the present video, Phil Carr from The Gold and Silver Club talks about crude oil as of September 18, 2019. He starts by recapping moves of the commodity during last week as well as reasons for them, including the attack on Saudi Arabia over the weekend that resulted in a huge jump of prices for crude oil. Phil continues with speculations of possible moves of crude this week and what factors will be causing them. The most important event for the week will the FOMC statement, though US crude oil inventories data can also have an influence on prices.

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In the present video, Phil Carr from The Gold and Silver Club talks about gold as of September 17, 2019. He starts the video by recapping moves of the metal during the past few days and reasons for them. Phil then continues with speculations about the possible behavior of bullion in the immediate future. He reminds how important Federal Reserve’s monetary policy announcement should, and also advised to watch for a reaction of US President Donald Trump to the announcement as well as for Fed’s projections for interest rates.

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Precious metals retreated today following yesterday’s rally, most likely due to profit-taking. Metals rallied yesterday on the news about an attack on Saudi oil facilities. Precious metals often rally on news about geopolitical tensions because investors use them as a safe haven. Uncertainty about the Brexit was also contributing to safe-haven demand.
Now, traders wait for the monetary policy meeting of the Federal Open Market Committee. The FOMC will start the gathering today and will announce its decision tomorrow. Market participants almost universally expect that the Committee will cut its main interest rate by 25 basis points. However, Friday’s positive macroeconomic data made speculators doubt whether US policymakers will be as aggressive with monetary easing as was previously

Futures for crude oil retreated today after yesterday’s huge rally, which caused prices to surge 15% to levels not seen since May. That was the biggest surge in several decades. It was a result of news about an attack on two Saudi oil facilities. The attack crippled the country’s oil production, slashing output by about 50%. Newly appointed energy minister Abdulaziz bin Salman will hold a press conference later today.
The CFTC Commitment of Traders report showed that hedge funds and money managers increased their net long positions on crude oil last week.
Now, traders wait for a supply report from the American Petroleum Institute due for release later today as well as for tomorrow’s official data from the Energy Information Administration. But the data will likely be overshadowed

In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, and crude oil for the week of September 16–20, 2019. He starts the video by explaining the performance of the commodities last week as well as mentioning the fact that hedge funds and money managers had trimmed their net long positions. Phil also mentions the news that came out over the weekend about a drone attack on Saudi oil facilities, which may drive oil prices higher. He continues by discussing charts of the commodities. He also reminds traders to watch for Federal Reserve’s monetary policy announcement as well as comments of US President Donald Trump in response to it.

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Gold rose today, and other precious metals joined the rally. Market experts speculated that the rally was just a result of short-covering ahead of the European Central Bank monetary policy meeting later today. Market participants expect the ECB to make its policy more accommodative, a move that will likely boost the US dollar. And that is not a good outlook for metals priced in the greenback. At the same time, economists expect today’s data to show a slowdown of US consumer inflation from 0.3% in July to 0.1% in August, which may limit an advance of the dollar.
Gains of bullion were limited by the positive market sentiment caused by signs of improving relations between the United States and China. The same optimistic sentiment boosted copper.
Futures for delivery of gold in December

Futures for crude oil rallied today as the market sentiment was positive. By now, though, the commodity retreated, erasing its earlier gains.
Traders felt more confident and willing to risk after reports that China decided to exempt 16 US goods from tariffs, while the United States will postpone implementation of new tariffs on Chinese goods till October 15. Markets considered the gestures as a sign that both countries want to maintain good relations and avoid a trade war.
Adding to the bullish momentum of crude was yesterday’s report from the Energy Information Administration. It showed that US crude oil inventories shrank by 6.9 million barrels last week — much more than was expected.
The main risk for oil prices is today’s monetary policy meeting of the European Central Bank. Experts

Futures for crude oil declined during Tuesday’s session, though they bounced a bit after the next session started. Analysts speculated that the decline was a reaction to the news about the resignation of John Bolton from the post of a national security advisor. Bolton is known for his hawkish stance against Iran. It is possible that without him the United States will soften the stance on the Middle Eastern country, which may result in a return of Iranian oil to the market.
Crude oil also declined after the US Energy Information Administration downgraded its price forecast. Now, the agency predicts that the average price for WTI crude oil in 2019 will be at $56.31 per barrel, down from $57.87 in the August report. Brent crude is expected to average at $63.39 per barrel, down from $65.15

In the present video, Phil Carr from The Gold and Silver Club talks about gold as of September 10, 2019, also mentioning silver. He provides his opinion about where prices may go in the near future, warning about being too bearish on the metal. Phil also reminds that monetary policy meetings of the European Central Bank and the Federal Reserve will likely have a huge impact on the metal market.

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Crude oil rallied today after Saudi Arabia replaced Khalid al-Falih with prince Abdulaziz bin Salman on a post of energy minister. The new minister signaled that he is going to continue to pursue the policy of output cuts to support oil prices. Markets welcomed the appointment as Abdulaziz bin Salman is considered to be good at negotiating production cuts and knowledgeable about markets.
Going forward, traders will watch for reports from the American Petroleum Institute and the Energy Information Administration about US oil inventories. The monetary policy meeting of the European Central Bank on Thursday is likely to have a strong impact on markets. Most market participants expect a stimulus from the ECB. If that is indeed the case, the US dollar is likely to rally, and that should have

In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, and crude oil for the week of September 9–13, 2019. As usually, he starts the video by discussing moves of the commodities last week and what factors affected them. The video continues then with commodity charts and speculation about possible price moves. Phil warns about being overly bearish on gold, warning against falling into “bear trap”, though admits that it is not impossible for gold prices to go lower. He also mentions important events to watch for, specifically the European Central Bank monetary policy meeting on Thursday and the Federal Reserve meeting next week.

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Crude oil ended Friday’s trading with gains. Market analysts had various theories explaining the commodity’s good performance. Some said that crude profited from risk appetite caused by China’s efforts to stimulate its economy. Other thought that Federal Reserve’s pledge to act “as appropriate” to bolster the US economy. The decline of the US dollar due to the slower-than-expected growth of US employment helped the dollar-denominated commodity as well.
Baker Hughes reported that US drillers reduced the number of oil rigs by 4 to 738 this week. The number of gas rigs slipped by 2 to 160.
The Energy Information Administration reported yesterday that US crude oil inventories shrank by 4.8 million barrels to 423.0 million barrels last week. The actual drop was twice the forecast amount of 2.4

Gold tanked today. Other precious metals joined the decline, showing significant losses as well. Palladium was an exception, managing to carve out reasonable gains. The major piece of news today was the report that the United States and China are going to resume their trade negotiations. While no specific date was set, sources talked about “early October”. That was enough to make traders seek higher-yielding risky assets, eschewing safer ones like bullion.
The same optimism can explain the rally of copper. China is the biggest consumer of the industrial metal, meaning that good news for the Asian country means prospects for higher demand for copper.
Positive US macroeconomic reports also weighed on gold. Automatic Data Processing reported that US employment rose by almost 200,000 last