Analysis Topic: Commodity Markets - Metals, Softs & Oils
The analysis published under this topic are as follows.Monday, February 16, 2009
Global Recession Worsens as G7 Ignores Currency Volatility / Commodities / Gold & Silver 2009
THE PRICE OF physical gold held in a tight $8 range early Monday, trading either side of $941 an ounce as world stock markets fell for the fifth session in six.Crude oil ticked lower from Friday's spike to $38 per barrel, while Opec members Qatar and Venezuela both said they want further output cuts.
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Monday, February 16, 2009
Silver Running Up to Resistance at $16 / Commodities / Gold & Silver 2009
Silver has advanced in a satisfactory manner to the first target given in the last update at the resistance in the $14 area and is now at a critical juncture, for there are several factors pointing to its breaking down into a reaction shortly. However, it could instead break above the resistance in the $14 area which would be expected to lead to a steep and rapid run at the strong resistance level in the $16 where exhaustion would set in.Read full article... Read full article...
Sunday, February 15, 2009
Gold Makes New Highs in Major Currencies Except U.S. Dollar / Commodities / Gold & Silver 2009
While gold has made progress since the last update, it has not not broken out to new highs against the dollar as expected, because the dollar has held up. Nevertheless it has made satisfactory progress and has made new highs against many other currencies.Read full article... Read full article...
Sunday, February 15, 2009
U.S. Dollar Hits Resistance as Gold Uptrend Remains Firm / Commodities / Gold & Silver 2009
Another week on the up side for gold and silver. Even the U.S, Dollar Index gained during the week. Is this supposed to happen? The Dollar is starting to look weak, see my brief analysis below.
U.S. Dollar Index - The following is just a brief view of the U.S. $ Index and intended to highlight a feature that I think is warning us of problems ahead for this currency. The chart represents the U.S. $ daily action along with a momentum indicator suggesting the strength of this daily action relative to an intermediate term time frame. A few support/resistance trend lines are thrown in for good measure.
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Saturday, February 14, 2009
Commodity Market Forecasts for Coffee, Cocoa and Grains / Commodities / Futures Trading
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Saturday, February 14, 2009
Success Stories: An Interview with Ross Beaty of Equinox Resources / Commodities / Metals & Mining
Little has changed in the soap opera being played out in the financial sector. Three more banks failed last week, bringing the total number of 2009 bank and thrift failures to nine. There were 25 failures during all of 2008, and nine in the first six weeks of 2009. Yes, this is a trend.Read full article... Read full article...
Friday, February 13, 2009
U.S. Mint Bullion Coin Sales / Commodities / Gold & Silver 2009
Back in late 1985, the US Congress authorized the Gold Bullion Coin Act of 1985 which President Ronald Reagan promptly signed into law. It ordered the US Treasury, through its US Mint branch, to start producing gold bullion coins. This law outlined very specific requirements for these new coins, including that they be produced from gold mined in the United States.Read full article... Read full article...
Friday, February 13, 2009
Corrective Period for GLD Gold ETF / Commodities / Gold & Silver 2009
Although gold prices -- and the SPDR Gold Trust (NYSE: GLD) -- are slightly lower this morning and are holding up extremely well after multiple up-days, my work argues for more pullback action in the upcoming hours. Both my near-term pattern and momentum work argue that the GLD has entered a corrective period that should press lower -- into the 90.00 area at a minimum and possibly to 88.00 -- prior to the next loop to the upside. As of the moment, I am content to remain on the sidelines in the GLD for a while longer.Read full article... Read full article...
Friday, February 13, 2009
Crude Oil Remains a Mush Have Investment Profit Play / Commodities / Crude Oil
Keith Fitz-Gerald writes: Commodities may be down, but they're not out – and they shouldn't be out of your portfolio, either.
As the investment director for Money Morning , I'm invited to a large number of speaking engagements each year. It's something I enjoy, and it's quite useful, too, for the questions that I get tell me a great deal about investor sentiment and the general tenor of the financial markets. The same is true for the questions I receive daily from our readers.
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Friday, February 13, 2009
Gold Investing "Hits Big Numbers" as Eurozone GDP Shrinks / Commodities / Gold & Silver 2009
THE SPOT PRICE of gold slipped 1.9% from a fresh 7-month high for US investors early in London on Friday as world stock markets rallied.The Gold Price also retreated from new all-time highs for British and Euro buyers – hit just after the end of New York trade yesterday – at £671 and €744 respectively.
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Friday, February 13, 2009
CIBC Global Markets Slams Silver / Commodities / Gold & Silver 2009
This week I'm going to comment on Jon Nadler 's remarks in his February 9 article titled The Silver Medalist. Jon pointed out some interesting quotes about the silver market and some of these I have issue with and some I don't. Mostly what he did is quote CIBC Global Markets and their assessment of the silver market. And one thing that he quotes from CIBC is that in 2008 silver had risen to about $20 an ounce and lately it's been languishing at around the $10 level; those are facts, no dispute there. And then they (CIBC) goes on to state at the first sign of a decline in gold, investors are likely to sell their silver holding but retain more of their gold holdings since gold has a superior reputation as an insurance policy, compared to silver. I really don't have an issue with that, yet .Read full article... Read full article...
Friday, February 13, 2009
US, UK Credit Ratings Look Set to Be Downgraded / Commodities / Gold & Silver 2009
Gold rose again yesterday, briefly rising above $950/oz and was up 0.6% on the day. Determined selling on the open in Asia saw gold fall and profit taking has seen gold fall in Asia and in early trading in London. This is to be expected as gold had risen by more than 15% in less than a month.Read full article... Read full article...
Friday, February 13, 2009
Gold: The New Money / Commodities / Gold & Silver 2009
The gold market is spreading both joy and fear lately. Those who have followed it for some time are more than pleased to see it working its way convincingly above the September Dollar price highs and out of a down trending channel that it has been bouncing around in since making all time highs last March. Both of those marks were cleared easily today and trading is stable in overseas markets, itself a good sign as gold is notorious for giving back gains from large price spikes.Read full article... Read full article...
Friday, February 13, 2009
Extreme Credit Markets Stress: You Can't Fool Gold / Commodities / Gold & Silver 2009
Gold has been on a tear lately. Indeed, gold was the only commodity that did not break its long term trendline during the massive commodities correction starting summer of 2008.Read full article... Read full article...
Thursday, February 12, 2009
Crude Oil WTI/ Brent Premium Inversion / Commodities / Crude Oil
Oh Yes They Did! - I've been trying to resolve what's behind the recent inversion of the historic premium that West Texas Intermediate [WTI] Crude Oil has enjoyed versus Brent Crude? Historically, West Texas Intermediate Crude Oil trades at a premium price to Brent Crude Oil for quality as well as logistical reasons. In recent weeks and months – WTI has been trading at a deep discount to Brent Crude:Read full article... Read full article...
Thursday, February 12, 2009
Comex Gold Net Longs and the Gold/ Crude Oil Ratio Divergence / Commodities / Gold & Silver 2009
The latest run-up in gold's secular bull market has reaches 7-month highs of $947/oz, triggered by an initial decline in the US dollar following a disappointing Tuesday market reception of the US Financial Stability Plan. Remarkably, however, gold shifted to the next gear despite a rebound in the US currency or the decline in oil prices, underscoring the metals improving allure as a yield replacement during interest rate-eroding policies in the industrialized world.Read full article... Read full article...
Thursday, February 12, 2009
The Final Hurdle for Gold May Have Been Passed / Commodities / Gold & Silver 2009
Bloomberg declares, “ Gold Soars to Highest Since July. ”
A Wall Street Journal headline proclaims, “ Gold is Flirting with $1,000, Again; ‘There's No Sign of the Market Tiring.'”
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Thursday, February 12, 2009
Junior Producer Picks as Gold Bull Market Rumbles On / Commodities / Gold & Silver Stocks
2008 was one of the worst years for suffering the market has ever thrown investors. Will 2009 be any better? Well I'm not optimistic but I don't rule out the occasional mini rally that sucks investors into believing everything is back on track. I do not think the market crash that started last year is over. Unemployment numbers are horrible, earnings for almost all sectors are in the red and looking to get worse. Obama's stimulus plan stinks to high heaven of rotten pork with very little of the total package actually going to where he promised during his election campaign.Read full article... Read full article...
Thursday, February 12, 2009
Precious Metals Strong on Protectionism and Worsening Banking Crisis / Commodities / Gold & Silver 2009
THE PRICE OF GOLD held steady ahead of the US opening on Thursday, recording the best London Gold Fix in 7 months at $944 an ounce.
World stock markets tumbled despite US lawmakers nearing final approval of their $789 billion stimulus bill.
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Thursday, February 12, 2009
Goldcorp Founder Forecasts Gold to Hit $5,000 by 2013 / Commodities / Gold & Silver 2009
Gold surged a further 3.3% yesterday to $942.45 (as did silver) as worries about the U.S. and global financial system and economy continue to grow and governments print money on an unprecedented scale to combat the economic crisis. Asian and European stock markets are again under pressure this morning.Read full article... Read full article...