Although the recovery of the oil demand is uneven across different economies, the United States and Europe are showing signs of a significant rebound this year, rekindling fund managers’ confidence that oil prices still have room to rise above US$70 per barrel. Although discussions on the Petroleum Super Week have subsided in recent weeks, investment banks such as Goldman Sachs are still optimistic about oil and commodities. Goldman Sachs expects oil prices to hit $80 per barrel this summer.
The price of gold is slowly expanding the recovery range, and is constantly hovering when it is nearing the top. It is currently fluctuating around $1,785. Fed policymakers rallied to refuse to reflect inflation concerns, and emphasized that the US economic market is different from the overheating phenomenon that the US Treasury Secretary Yellen pointed out that the Fed needs to announce an interest rate hike. They also explained that there is still a long way to go to reach the goal. U.S. Treasury yields have shown a downward trend for 4 consecutive trading days, coupled with the weak posture of the U.S. dollar, continue to provide support for the price of gold. As of 08:33 Hong Kong time, the price of gold fell slightly by 0.10% to US$1,784.80.
Service relating to Over-the-counter (OTC) Gold Bullion/Silver trading is provided by MOL. OTC Gold/Silver Bullion trading carries a high degree of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. OTC Gold/Silver Bullion is not regulated by the Securities and Futures Commission (""SFC"") and therefore trading OTC Gold/Silver Bullion will not be subject to rules or regulations promulgated by the SFC. Before deciding to trade OTC Gold/Silver Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain losses in excess of your deposited fund or even more in extreme circumstances and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading OTC Gold/Silver Bullion, and seek advice from an independent financial advisor if you require.