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week five by Mind Map: week five

1. Oil

1.1. Monday and Tuesday

1.1.1. due to last week's news prices continued to rise.

1.2. Wednesday

1.2.1. prices fell, pulled down by declining stock markets after a key advocate for free trade in the U.S. government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war.

1.2.2. Gary Cohn, economic adviser to U.S. President Donald Trump, seen as a bulwark against protectionist forces within the government, said on Tuesday he was resigning, triggering a more than 1 percent fall in S&P 500 futures on Wednesday.

1.2.3. Cohn’s resignation came after he lost a fight over Trump’s plans for hefty steel and aluminum import tariffs.

1.3. Thursday

1.3.1. U.S. President Trump setting to meet North Korea's Kim on May might cause the prices to rise.

2. Gold

2.1. Monday

2.1.1. prices edged up early on Monday on a softer dollar, amid worries about a global trade war even as US President Donald Trump faced pressure from political and trade allies over his plan for steel and aluminum tariffs. but later on in that day it went down.

2.2. Tuesday

2.2.1. due to dollar exchange rate decrease the prices went up

2.3. Wednesday and Thursday

2.3.1. A solidly higher U.S. dollar index and weaker crude oil prices on this day were bearish “outside market” forces that limited buying in the precious metals. Also, a presently stable geopolitical environment is keeping buyers of safe-haven gold very timid

2.4. future predictions

2.4.1. Will Rhind, CEO of GraniteShares, which manages the new gold-backed ETF (NYSE: BAR), said that he could see gold prices push to $1,475 an ounce if gold follows in the footsteps of copper.