Luckily or not, 2017 is behind us. It was a positive year for the gold market, as the yellow market gained more than 12%. However, investors are forward-looking, so let’s focus on what the coming months will bring.
Oil prices pulled back after Brent crude hit its $70 per barrel objective and Chinese crude oil imports hit a record high but was a bit shy of expectations, but still strong as global demand is surging, global supply is falling and then there is the dollar.
Oil prices have been driven higher by momentum in recent days and weeks as investors speculated about tighter market conditions amid the recent de-stocking of crude inventories, owing in part to reduced crude production from the OPEC and Russia.