Gold Retreats, Bitcoin Breaks Downtrend & More: The Week in Commodities

Phil Streible reviews the week in commodity markets. On the SPX, he sees resistance around $5,700, and is hoping we can hold the $5,500 level. He says industrial focus can boost the prices of silver and copper and normalize the ratio between gold and silver. However, he thinks that the recent volatility has shown investors that everyone should have some gold holdings. He argues that bitcoin has recently broken out of a downtrend, but says risk-off sentiment could cause futures to fall “pretty fast.”

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