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Gold & Silver Sit At Critical Resistance Levels

Discussion in 'Commodity vs Dollar' started by capitalstars05, Dec 30, 2015.

  1. capitalstars05

    capitalstars05 New Member

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    Gold seems unable to sustain the 1070 price level having fallen in the US session on Tuesday, Asian traders pushed up the shiny metal about $2 in the morning ahead of the holidays

    Oil are overloaded and it will take years to use the current supplies.
    Oil are overloaded and it will take years to use the current supplies. A recent report from OPEC indicated that the energy sector will not return to a more normal position until 2020. World oil production this year has exceeded demand by 2 million barrels per day at times. In 2016, Iran is expected to add its exports to the mix after Western sanctions on its oil come off.
    "Iran is gearing up to flood the market with 500,000 bpd within weeks of sanctions being lifted," noted Ole Hansen, head of commodity strategy at Saxo Bank.

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