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Forex Strategy Video: What Will It Take to Revive the Long-Term Oil, Gold Bulls?

Forex Strategy Video: What Will It Take to Revive the Long-Term Oil, Gold Bulls?

2016-02-06 23:45:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

• Between 2009 and 2011, both gold and oil mounted incredible rallies; in recent years they have tumbled

• Gold's strongest backdrop was founded on the need for an alternative to the the most liquid 'fiat' assets

• Oil is a strong reflection of global demand, but supply is the most capable catalyst for a decisive rally

See the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

Whether or not you trade commodities directly, it is important to keep track of the asset class' key players. In particular oil and gold present remarkable trade opportunities in their own right; but they are also unique measures of global economic and financial health. In the past few weeks, both metal and petroleum product have garnered attention for tentative, provacative moves. Oil has seen an incredible level of volatility with threats to reverse a bear trend that is only second to the 2008 plunge. As a 'fuel' for global growth, its economic value may be considered distinctly demand-centric. However, supply factors are most volatile and thereby the critical aspect for price. For gold, we have a unique measure of financial health. The boom years for the precious metal were defined by first a need for safety and then an appeal to avoid universal devaluation of traditional currencies and fiat assets. How will these commmodities trade going forward and what can they tell us about the broader market? That is the focus of this weekend Strategy Video.

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