Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Hi Joakim. I think that the immediate consideration for oil is the Iran nuclear deal which is to be decided today by the US whether it wants to uphold it or not. Trump has threatened Iran that if it resumes the deal after it is broken there will be consequences. So the practicality of it all is lost. Nevertheless it seems that at least in a great part the Iran/US situation is the impetus in oil. Gold should react one way or another with any related announcement but for now it is under pressure due to the strong $.