Gold, Crude Oil Price 2021 Outlook
There are various financial instruments or trading tools available for traders. But when it comes to commodities, they help traders to come out of the financial crisis. During economic recession these commodities perform better. However, not all commodities perform well even during economic recession. But still there are some options to choose from if you want financial growth during an economic recession.
Gold and crude oil are some of the best trading tools in the commodities market. It doesn't matter if you have ever traded these investment instruments or not. But you can easily profit from these commodities.
However, there are a lot of things including predictions or price forecasts, market volatility, supply and demand, current prices. Considering all these factors will help you trade gold more advantageously. Moreover, with the complete information, you will be able to succeed in crude oil trading.
So, in this post, we are going to tell you how gold and crude oil prices will perform in 2021. Whether they will rise or fall? What are your thoughts on this?
There are too many reports and forecasts about these commodities. But we are here with the best trading tips and information. If you are looking to get involved in gold trading or want to trade crude oil, then this post is for you.
Gold and Crude Oil Price Outlook Overview
Let's start with the gold market
Let's start with the gold market. Unlike other financial markets or trading markets, gold outperforms even in tough times. The gold price index always offers high returns to investors.
To invest in gold, you need to analyze various things like economic data, financial market trends and market sentiment etc. You also need to see the global supply and demand. So, here we are to help you know about the outlook of gold for 2021.
Gold in the first quarter
In the first quarter of 2021, gold has seen a little bit of growth. That growth wasn't all that much. But it increased the hope of gold price rise for the second quarter. There are many expert traders and gold investors who said that the first quarter performance was positive for gold.
Gold forecasts for the second quarter
But what about the second quarter? Do you think gold prices will rise in the second quarter of 2021? Well, most likely there are positive forecasts and predictions in the market.
There are many forecast reports about gold growth in the market. Before we take a look at the gold outlook for 2021, let's take a look at the factors that influence the price of gold.
Factors that can affect the price of gold
There can be many factors that affect the price movement of gold. The gold market is not that volatile and there are not too many indirect influencing factors. Most of the market influencers directly affect the price of this precious metal.
- Demand and supply
- Fundamental data
Gold Market: Outlook 2021
Now let's get to the point. This post is mainly about the gold market outlook for 2021. All gold investors want to know how gold will perform this year. Below are the major forecast reports or results for the gold market.
- Not Farm Payroll reports
- US inflation index
Crude Oil Price: Let's analyze in more detail
Whether you are trading crude oil futures contracts or directly Brent crude oil. You need to keep track of all the prospects for crude oil trading.
Here's where you can learn all about crude oil. Whether it's West Texas Intermediate (WTI crude) or Light Sweet Crude Oil or natural gas products.
Crude oil in the first quarter
Crude oil did not perform well in the first quarter. There was a small drop in the price of a barrel of oil in the global market. However, this did not affect the price of commodity futures. Gasoline prices or crude oil prices fell a little bit. But still, there was a lot of hope for growth.
Crude oil price forecasts for the next quarter
The world oil market got many forecasts for the second quarter. Even the entire energy sector is expected to do well. From oil producers to oil stocks, everywhere will see a positive reaction. Global economic data is affecting the spot oil price, but still this market is stable.
Factors affecting the crude oil price
From news headlines to an increase in oil demand, all of these factors affect the price rise or fall of crude oil. However, below are the major factors that greatly affect the oil industry.
Demand and supply
Oil demand and supply always have a direct impact on oil prices in the global oil market.
Production costs can increase after oil is refined in refineries using advanced technologies. These increases in production costs affect the price.
Transportation costs, taxes, export and import taxes, excise taxes - all these factors also affect the price.
Fundamentals make any investment instrument react under certain conditions. So you need to know the fundamentals of crude oil and its market.
International trade policies
International trade policies are also important for oil traders. They have a great impact on the market and its prices.
Crude Oil Price Outlook 2021
Now let's take a look at the crude oil forecast for 2021. The overall expectation is positive for the market. Crude oil is expected to rise for the rest of the year. Below is the key outlook for the crude oil market.
Price rise for Asian countries
Oil producing countries, including Saudi Arabia, have raised the price of their oil exports to Asian countries. This move may push up the oil prices in Asian countries.
Less production in the second quarter
There will be less production in the second quarter of this year. However, in the first quarter, there was an increase in production of about 2.25 million barrels worldwide.
US Crude Oil down
The USD and the US oil market are also changing oil prices around the world. US crude oil prices fell in the first quarter. This will also have an impact on global prices.
OPEC hints at more supply
Summary - Gold & Crude Oil Price 2021 Outlook
The price of crude oil and gold is affected by many factors. The expert investors and traders have shown that the oil market will grow in 2021. On the other hand, most of the investors and the institutional investors are also showing positive expectations for the gold market.
The crude oil market did not outperform in the first quarter of the year. But still there is a lot of hope for growth. The growth of the oil market and the gold market will have a direct or indirect impact on the other markets like the foreign exchange market, the equity markets etc.
Most of the time, the futures trading, options trading and gold ETFs are affected by the crude oil and gold market.
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