Silver

Without a doubt, oil investors are focusing now mostly on news out of Washington, because it could have the greatest impact on crude prices this week.

Following last week’s uncertainty over whether the Republicans and Democrats could forge a deal to prevent America defaulting on its debt payments, the impending deadline and increased urgency in negotiations appears to have encouraged significant trading in physical gold.

Looking at the chart of crude oil from today’s point of view, we can say that the first week of a new month and a new quarter was quite good for oil bulls.

One of the main events of recent days was the first U.S. government shutdown in 17 years

One of the main events of recent days was the first U.S. government shutdown in 17 years.

This has been a quieter week for trading activity by GoldMoney customers compared with the previous 2 weeks although still above average 3 month trading levels.

On Wednesday, silver gained almost 2.7% and reached $22 as a weak dollar boosted commodities priced in the greenback.

In the previous week the Fed surprised markets when it decided to stick with its massive stimulus measures

Good news: a major bottom is developing. Bad news: it needs more time to play out….

Last week the price of silver climbed to $23.45 after U.S. Federal Reserve Chairman said its huge stimulus program would stay in place.