SaxoTV

Hansen: Gold weighs heavy while crude struggles

657 views
August 25, 2015 brent, brent crude, brent oil, brent price, brent spread, brent wti, brent wti spread, commodites, commodities, commodities gold, commodities markets, commodities prices, commodities supply, commodities trading, commoditiies, commoditiy, commodity, commodity corner, commodity currencies, commodity currency, commodity gold, commodity index, commodity investing, commodity investments, commodity market, commodity markets, commodity oil, commodity outlook, commodity prices, commodity prices industrial output, commodity sector, commodity strategy, commodity trade, commodity trading, commoditymarket, crude, crude oil, crude oil price, crude oil prices, crude price, crude prices, crude spread, crudeoil, gold, gold buying, gold commodity, gold demand, gold dollar, gold future, gold investing, gold investment, gold levels, gold market, gold predictions, gold price, gold prices, gold spot, gold support, gold trade, gold trading, goldprice, precious metal, precious metal prices, precious metals, precious metals prices, preciousmetals, saxo, saxo bank, saxo tv, trading, tradingfloor, tradingfloor.com, wti, wti and oil, wti brent, wti brent spread, wti crude, wti crude oil, wti crude prices, wti price, wti supply, wti vs brent, wticrude
Commodities are still being hit hard following Monday's market turmoil, with China continuing to drive weakness.  Many had expected gold, considered a safe haven, to rally as a result but that didn't happen. Instead it reached its lowest level in 16 years.

Saxo's Ole Hansen explains what's going wrong for the precious metal and the levels to look out for from here.

He also discusses crude which also continued to extend its losses. WTI has seen a bounce this Tuesday. But Hansen says that increased supply and the potential slowdown in demand in China makes the upside look limited. He discusses levels but thinks it's a sell on rallies.