ภาพรวมสินค้าโภคภัณฑ์ปี 2017 : ทองคำอาจตกที่นั่งลำบาก

Commodities outlook for 2017: Gold could be in for a whole lot of pain

15 Dec 2016 | Gold News
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In the commodities sphere, it's been a volatile year for the crude oil market. Light crude plummeted to a low of $27 per barrel at the start of 2016, yet has rallied past $50 as the year-end approaches, helped in no small part by Opec and non-Opec producers announcing their first production cut pact in 15 years.

For its part, gold soared on safe haven demand, but is not looking quite so smug now as the dollar strengthens. Here's a look ahead to what I expect in 2017.

Gold: The Trump trap could lead to a retest of $1,000It was predictable on the basis that the 2011 resistance line at just under $1,340 was, and remains, a hefty hurdle for a market to cross. Indeed, it could be said that if you want a "reliable" signal for a gold turnaround in 2017, a weekly close above the five-year resistance line would be the event to wait for.

Otherwise, the risk is of a decline back to the support line drawn from the end of 2010, currently pointing at $1,000. It can be assumed that under normal circumstances we shall not see the floor of the mildly converging price channel broken. But if it did, it would almost certainly be accompanied by the "normalisation" of interest rates which people are now associating with the President-elect.

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Commodities outlook for 2017: Gold could be in for a whole lot of pain