Analysts are expected a major comeback for commodities this fiscal year, as oil prices could potentially hit $80 per barrel. Expert believe, the greater restrain in production self-imposed by major oil producers will help maintain the stability of prices this year.
Oil prices ended 2017 above the $60 dollar mark, which is the commodity’s best performance since June of 2014. Both West Texas Intermediate and Brent Crude international benchmark have seen major price increases in the last couple of months.
Bitcoin is strongly performing and is heading full speed towards the $18,000 mark despite news predicting it would crash and burn. According to Coin Desk’s price index, Bitcoin prices across global exchanges were seen trading at the $14,951 levels while the cryptocurrency caught a huge wave reaching an intraday peak of $15,393.97 in the last session. In fact, it has leaped another 10 percent in the last 24 hours. Experts believe that based on Bitcoins’ current performance, the cryptocurrency might reach the $18,000 mark in the near future.
The weakening of the dollar helped gold prices climb and hit a 3-½ month high on Wednesday. U.S. gold futures rose by 0.5 percent closing at $1,322.40 per ounce. Spot gold added 0.2 percent to its value closing at $1,320.77 per ounce. Throughout the session, it reached $1,321.33, its highest price since September 15th.