Crude Oil Daily Fundamental Analysis Crude oil prices rose on Friday after data from the U.S. signaled the economic recovery continues although at a moderate pace, as income and spending rose in line with expectations, and consumer confidence rose above expectations. Trading should remain calm on Monday due to the Memorial Day holiday in the United States, and we don’t expect to see any clear direction but crude oil prices will probably fluctuate within a limited range. Monday 12:30, Canada will release the Gross Domestic Product for the month of March, where the Canadian economy contracted in February by 0.2% and expanded by 2.9% on yearly basis. Gold Daily Fundamental Analysis The week starts with light volume in the market and accordingly might imply strong volatility for gold with the U.S. and U.K. markets out. With both markets absent, the metal will likely be limited in a tight range of trading with strong fluctuations and volatility, especially with the absence of London markets. The metal might correct some of the gains seen last week and gain more bullish momentum to resume the bullish rally this week after it reached the highest in three weeks last week and was steady trading above $1,500 per ounce once again. This week will unfold more details for investors over the debt crisis development in Europe and the outlook for the global recovery with key fundamentals from major nations, and especially the U.S. jobs report, and accordingly the metal might only start the week with a light move in preparation for heavy movements the rest of the week. Natural Gas Daily Fundamental Analysis Natural gas prices reversed Thursday’s losses and rose strongly on Friday to a 3-week high, where speculations of rising demand for power-plant fuel due to above than normal temperatures for this time of the year in the East and Midwest of the United States. Natural gas prices will probably continue to rise on Monday, especially if weather forecasts signal temperatures will remain higher than average. 0 0

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