Here's a new indicator for you: It seems that the difference between the price of oil here and abroad is a measure of tightness in the market, with a rising spread indicating higher prices in the future, with all the inflationary pressures that that implies. From today's Wall Street Journal: Trans-Atlantic Oil-Price Spread Soars as Supply Glut DisappearsU.S. oil prices are lagging behind global oi...Read More
Gold's breach of nearby support last week freaked out some longs of a nervous disposition, but it did no technical damage of any significance, as we can see on our latest 3-year shown chart below on which we can observe that it is still above important supporting trendlines. This chart shows that last week's drop was just a "storm in a teacup". Recall that the pattern that has been forming since...Read More
Comex copper reached a one-week high Monday May 21 morning in the US, with easing trade tensions between China and the US producing higher prices for equities and metals.Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 3.65 cents or 1.2% to $3.100 per lb. Earlier, the contract touched a high of $3.115, the highest since May 14."Despite the mostly positive...Read More
Technical analyst Clive Maund takes a look at miners working in British Columbia's Golden Triangle. Golden Triangle, Credit: Visual CapitalistWe have looked at three exploration stocks working in British Columbia's Golden Triangle in recent months. Two of them are at about the same price as when we bought them, while the third is up significantly, and all three are expected to advance in coming m...Read More
Click here for full transcript: http://financialrepressionauthority.c...Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic range of timely topics: finance, housing, Asia, energy, long-term trends, social issues, health/diet/fitness and sustainability. From its humble beginnings in May 2005, Of Two Minds now attracts some 200,000 visits a month. Charles also contributes to AOL...Read More
By Clint SiegnerPractically nobody enters the foreign exchange markets looking to buy and hold. Currency trading is generally a short-term game, and there isn't much regard for analysis of the longer-term fundamentals.That much is evident given the ongoing rally in the Federal Reserve Note dollar, despite its outlook being downright grim.Nobody should be fooled by recent outperformance relative...Read More
Metal Bulletin journalists round up the key themes and topics discussed at the sixth annual London Metal Exchange Asia Week held in Hong Kong on May 14-18. 1. The London Metal Exchange does not have revenue projections for over-the-counter (OTC) booking fees, chief executive officer Matthew Chamberlain said. "Overall, we have said that we hope to recover [the revenue lost from discounted fees] wit...Read More
CloseGain/LossGold $1292.20+$0.50Silver$16.50+$0.07XAU82.08+0.03%HUI177.68-0.03%GDM621.69+0.41%JSE Gold1010.99-1.83USD93.58-0.09Euro117.86+0.18Yen90.23-0.26Oil$72.24+$0.9610-Year3.057%-0.008T-Bond141.40625+0.21875Dow25013.29+1.21%Nasdaq7394.04+0.54%S&P2733.01+0.74% The Metals: Gold fell $9.70 to $1282.00 in Asia, but it then rallied back higher throughout trade in London...Read More
Technical analyst Clive Maund looks at gold, silver and the dollar after reviewing the latest COT Charts. Gold's breach of nearby support last week freaked out some longs of a nervous disposition, but it did no technical damage of any significance, as we can see on our latest 3-year shown chart below on which we can observe that it is still above important supporting trendlines. This chart shows...Read More
Theprice of gold moved considerably lower in the past several weeks, despite thepause that we saw in the final part of the previous week. The yellow metalmoved below $1,300 and confirmed this move by several daily closes below it.Moreover, gold confirmed the breakdown below the rising medium-term supportline that’s based on the daily closing prices of December 2016 and December2017 lows. Con...Read More
By Frank HolmesStrengths? The best performing metal this week was silver, down just 1.34 percent. Both gold and silver stabilized by Wednesday, after real yields surged about 9 basis points the first few days of the week, and then largely traded sideways the rest of the week. Despite the dollar the interest rates continued higher, but at a slower pace.? During the...Read More
Base metals prices on the London Metal Exchange were firmer on the morning of Monday May 21, with prices up by an average of 0.4%. Lead was out in front with a 0.9% rise, while copper was up by 0.6% at $6,864 per tonne.Volume on the LME has been above average with 8,214 lots traded as at 07.54 am London time. This follows a mixed performance last Friday where the metals were either little changed...Read More
Ah, Italy. My people; fun to be around, a nightmare to govern. And now an existential threat to the European Union, the euro currency, and the global bond markets.After suffering for over a decade under a monetary regime designed by and for efficient economies like Germany, the Italian people have finally said enough, giving a majority of their votes in this month's election to parties that prom...Read More
CloseGain/LossGold $1292.20+$0.50Silver$16.50+$0.07XAU82.08+0.03%HUI177.68-0.03%GDM621.69+0.41%JSE Gold1010.99-1.83USD93.58-0.09Euro117.86+0.18Yen90.23-0.26Oil$72.24+$0.9610-Year3.057%-0.008T-Bond141.40625+0.21875Dow25013.29+1.21%Nasdaq7394.04+0.54%S&P2733.01+0.74% The Metals: Gold fell $9.70 to $1282.00 in Asia, but it then rallied back higher throughout trade in London...Read More
CloseGain/LossGold $1292.20+$0.50Silver$16.50+$0.07XAU82.08+0.03%HUI177.68-0.03%GDM621.69+0.41%JSE Gold1010.99-1.83USD93.58-0.09Euro117.86+0.18Yen90.23-0.26Oil$72.24+$0.9610-Year3.057%-0.008T-Bond141.40625+0.21875Dow25013.29+1.21%Nasdaq7394.04+0.54%S&P2733.01+0.74% The Metals: Gold fell $9.70 to $1282.00 in Asia, but it then rallied back higher throughout trade in London...Read More
By Ira EpsteinIndustrial metals up on Chinese truce on tariffs but gold flat.https://www.iraepstein.com/ Read More
By JS KimI have long lamented the incessantly click-bait "gold ready to explode higher any day" and "silver ready to explode higher any day" headlines that torment the precious metals community frequently throughout most years. I have always kept hedging strategies in anticipation of these large price raids, and notification of bottom price targets and notifications of reversals in prices excl...Read More
Cobalt 27 has agreed an $80 million revolving credit facility to help fund its investments in the mineral industries, including streaming and royalty agreements, the company said late last week. The credit facility, "significantly strengthens Cobalt 27's liquidity and provides the financial capacity to accelerate our plans to close streaming transactions," Anthony Milewski, chairman and chief exec...Read More
Gold's breach of nearby support last week freaked out some longs of a nervous disposition, but it did no technical damage of any significance, as we can see on our latest 3-year shown chart below on which we can observe that it is still above important supporting trendlines. This chart shows that last week's drop was just a "storm in a teacup". Recall that the pattern that has been forming since...Read More