Gold futures rallied to near a five-month high on Tuesday, boosted by a drop in the U.S. Dollar and lower demand for higher-yielding assets.
Gold futures rallied to near a five-month high on Tuesday, boosted by a drop in the U.S. Dollar and lower demand for higher-yielding assets. General nervousness over geopolitical tensions also helped provide support.
Worries over the outcome of the upcoming French presidential elections also underpinned gold prices. Many investors are growing wary ahead of Sunday’s elections, in which populist candidates loom larger than before… Read More
Silver fell significantly during the session on Tuesday and Wednesday morning, as we continue to see a back and forth type of market recently. There is an $18 level support area just below, so it’s likely that buyers will return sooner rather than later. On a supportive candle, I’m willing to go long, but I will wait until we get a daily candle telling me to do so before I put any money to work… Read More
WTI crude touched one-week lows of 52.16 into the N.Y. open, down from $52.75 highs seen after the N.Y. close on Monday. The move lower comes as Saudi Arabia says it is too soon to talk about extending the OPEC/NOPEC production cuts set to roll off at the end of June. The black gold is trading at 52.38 on Wednesday morning… Read More
Natural gas prices fell to a two-week low on Tuesday and in a position to take out a pair of bottoms that could trigger an acceleration to the downside. The weather continues to play a role in whether the supply and demand equation will remain nearly balanced. Worries over this factor appear to be encouraging bullish traders to pare positions.
The primary driving force behind the recent weakness has been the lack of weather-related demand and the assessment of storage injections… Read More