Outlook & trading strategies for Silver, crude oil by Tradebulls Securities

The outperformance in Silver is because it could benefit from optimism about increased industrial demand as economies reopen following the COVID-19 pandemic

Gold futures have corrected as major global economies further eased coronavirus-led restrictions, fueling hopes of economic recovery and bolstering risk appetite. Despite the recent rally, gold’s net long position remains at 11-month low, which indicates that market participants are looking at another alternative than gold. Short-term, there is no key driver for gold which also raises the risk for a period of consolidation. Buyers looking for the long-term may welcome a healthy correction into a value area to give them an opportunity to re-enter the market at more favorable price levels. Gold is losing its appeal as a safe-haven asset