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Oil Value Surges Upward; while Gold Downs

May 03, 2021 – Oil’s value surging forward to $63.64 for WTI (+0.15) and for $66.77 BRENT (+0.12). Gold Down 2nd week in a row as nemesis yield returns.

Oil’s value still surging forward to $63.64 for WTI (+0.15) and for $66.77 BRENT (+0.12).

Many countries in South America such as Brazil, Colombia, Valenzuela, etc. holding their supply also like what happened to India.

This is because of Covid-19 cases, the number of affected is growing bigger and bigger every day, force Oil producers to hold their supplies (Stop producing) and give reason to Oil’s Value to rise again because of lack of supplies.

They’re expecting Oil’s value will reach again their previous all time high. Mid-month of this year.

GOLD UPDATE

Gold Down 2nd Week in Row as Nemesis Yield Returns

P = $1,773.10 -2.5
A = $1,770.60 -.062%

“While the global market is readying for an inflation overshoot, gold is under performing,” TD Securities said.

The yield on the 10-year Treasury note hit a two-week high of 1.684 on Thursday as bonds started selling off again this week after a spike in U.S. consumer confidence.


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