Spot gold surged to a lifetime high on Friday in holiday-thinned trade, hitting a record for a sixth consecutive session on a weak. Silver also raced to its loftiest in 31 years, notching the milestone for a seventh straight day and outstripping gold's weekly gains by a huge margin. Silver has gained 51 percent so far this year, and gold 6 percent. So long as the overall environment remains supportive and the dollar remains weak, gold is expected to remain strong, but a correction might be on the horizon after the rapid ascent, traders and analysts said.
Crude oil prices are expected to fall to an average of $108 a barrel in the third quarter, a Reuters poll showed on Thursday, as analysts expect current highs around $124 to dent demand and economic growth. Disturbances in the oil-producing regions of the Middle East and North Africa have powered four months of bullish price increases.
Crude oil prices are expected to fall to an average of $108 a barrel in the third quarter, a Reuters poll showed on Thursday, as analysts expect current highs around $124 to dent demand and economic growth. Disturbances in the oil-producing regions of the Middle East and North Africa have powered four months of bullish price increases.
