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The Golden Cross formation raising expectations
A golden cross occurs when you seen the 200 day moving average cross with the 50 day moving average and it's happened to gold this week. It's raising expectations the precious metal could move higher. Saxo Bank's Head of Commodity Strategy, Ole Hansen, however says there are plenty of other issues that could effect gold's price.
Ole also looks at the price of oil this week; Brent crude has fallen and Ole explains what's going on. He says we're in a trading range of USD 105 to 110.
The price of coffee has slumped considerably. It's a correction, says Ole, after rain finally came to Brazil and Vietnam, major coffee producers. He believes though that we're still looking for a potential deficit and prices shouldn't fall much further from here.
02:09 minutes
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