Oil & Gold Consensus Forecast - 01 July 2020
- Oil prices were relatively stable over the past two weeks, amid a sustained rebalancing of global demand and supply conditions. The lifting of lockdowns in Europe and the U.S. boded well for oil consumption, in turn supporting crude prices.
- Gold prices rose in the second half of June, thanks to robust safe-haven demand and unprecedented monetary and fiscal policy support. Contracting activity in most advanced economies, a flare up in U.S.–China geopolitical tensions and lingering uncertainty over the evolution of the health crisis— particularly in the U.S.—fueled demand for safe-haven assets