Goldman Sachs lowered its oil price forecasts for the new year. The investment bank now expects international benchmark Brent crude to average $62.50 a barrel this year, down from a previous forecast of $70–reports CNBC.

We see whether the gold rally will continue throughout the whole Q1. Experts say that 2019 will be much better for gold because of its insurance qualities. Read the whole article on Seeking Alpha.

Q4 was the worst for the resource sector since 2008. It is now setting us up for a good 2019. WCS differentials are likely unsustainable at these tight levels around $9. He expects the WCS discount to be $20-$25 US/bbl and light barrels to be discounted by $10-$15 US/bbl range. About 325,000 barrels per day is curtailed as part of the Alberta government policy — about what the market is long in Canada right now. Then when Enbridge Line 3 comes on around later in the year it will also be supportive. The US dollar has come of its peaks and he thinks this will help gold prices — he thinks gold will get to $1350 US/oz. This will be good for gold stocks in 2019.

325,000 barrels per day is curtailed as part of the Alberta government policy, and Enbridge Line 3 later on will be a support. Since the US dollar is bit lower, gold price may better which of course is good for gold stocks.