CL
Crude oil futures rallied sharply on Friday, to record the first monthly gain in seven months, amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies. The sharp increase continued the trend of volatile price fluctuations, as prices have wavered dramatically over the last several weeks. Daily oil prices have moved more than 2% in an up or down direction in 25 of the last 38 trading days.
GOLD
Gold ended higher for the third consecutive session on Friday, as traders pushed back expectations for the timing of the first U.S. rate hike following comments made by Federal Reserve Chair Janet Yellen earlier in the week. Investors scaled back expectations for a mid-year rate hike after Fed chief Yellen said in testimony to the Senate Banking Committee on Tuesday that it was “unlikely” that economic conditions would warrant an interest rate increase for “at least the next couple of FOMC meetings”. A delay in raising interest rates would be seen as bullish for gold, as it decreases the relative cost of holding on to the metal, which doesn't offer investors any similar guaranteed payout..