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Video: Weekly Commodity Forecast – Gold, Silver, Platinum. Crude Oil for May 11-15, 2020

May 12, 2020 at 13:44 by Vladimir Vyun

In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, platinum, and crude oil for the week of May 11–15, 2020. He starts the video by discussing the recent rally of the US dollar that put pressure on dollar-priced commodities. He follows then with charts of the commodities, speculating where prices may go next and what actions traders should take. Despite the recent pullback of precious metals, he remains bullish, considering any pullback a buying opportunity. Phil argues that summer is often a good period for metals after a retreat in May, making it reasonable to buy metals while they are cheap in anticipation of a move higher. Crude oil is a different beast entirely as it can easily break down as the date for expiry of the June contract nears, the same as in the previous month when the May contract was nearing the expiry date, and the storage capacity remains an issue.

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