Forecasts & Analysis | Commodities, Page

The longer the market sits inside a trading range, the greater the chances of a volatile breakout. Given the timing of the chart pattern, it looks as if the outcome of the American Petroleum Institute’s (API) weekly storage report on Tuesday at 20:30 GMT will determine the direction of the

Based on the current price at $1342.30, the direction of the August Comex gold futures contract into the extended close is likely to be determined by trader reaction to the short-term 50% level at $1342.90.

Demand remains subdued

Gold consolidates ahead of Fed

Silver markets were relatively flat during trading on Monday, which is not much of a surprise considering that we have a major Federal Reserve meeting on Wednesday. Obviously, whatever the Fed does will have a significant effect on the US dollar, and therefore silver.

Crude oil markets did very little during the trading session on Monday, as markets in general took a break. Keep in mind that the Federal Reserve has a statement coming out on Wednesday that will greatly influence markets overall.

The natural gas markets have done very little during the trading session on Monday as we came back to work. That being the case it’s very likely that we continue to simply grind in this generally dead market.

Gold prices stopped rising early in the third week of June. On Monday June 17th, the Troy ounce is trading at 1340.10 USD with the last week’s high being at 1362.20.

The new short-term range is $2.305 to $2.413. Its 50% level or pivot at $2.359 is controlling the direction of the market today. The price action suggests that a support base is forming. Prices aren’t likely to move much out of this range until traders get the next weather forecast.

On Monday, gold prices are recovering from their lows following the release of a weaker-than-expected Empire State Manufacturing Index report. It came in at -8.6, well below the 12.1 forecast and 17.8 previous read. We’re not expecting major moves in Treasury yields or the stock market ahead of the Fed

While the inside trade may indicate opinions are mixed about the catalysts behind the price action, the lower trade suggests expectations of lower demand are outweighing supply fears being generated by Iran’s potential involvement in the attacks on oil tankers in the Gulf of Oman last week.

Not too surprising ahead of the key FOMC meeting markets are opening tentatively this morning, with equity futures pointing to small losses in Asia as trader pivot to what can best be described as a tricky balancing act when the Federal Reserve Board meets later in the week.

I’m not expecting too much of a reaction to the Fed news from gold traders. The next two moves by the Fed have been telegraphed for at least a week. In my opinion, the Euro is going to have a bigger influence on the price action. A weaker Euro will

Early in the week, trader reaction to a minor top at $2.406 will tell us if the short-covering is getting stronger. If momentum begins to build on this move then the rally could eventually extend into the short-term pivot price at $2.518. This rally will look impressive on the short-term

Crude oil bulls proved weaker and the strength they attempted to project yesterday, evaporated to a considerable degree. Neither today, they appear any stronger.

The unease across financial markets has intensified the oil markets recent sell-off.

The current economic expansion has just equaled with the longest boom in US history. Is that not suspicious? We invite you to read today’s article, which provides you with the valuable lessons from the 1990s expansion for the gold market and find out whether the US economy will die of

As we mentioned last week, Gold should at minimum be on everyone’s radar if not in everyone portfolio. After the break of the psychological $1350, Gold is reclaiming its rightful status as a must-have asset in everyone’s investment portfolio.

Based on Friday’s price action and the close at $2.381, the direction of the August natural gas futures contract on Monday is likely to be determined by trader reaction to the minor pivot at $2.353. We may see some technical buying due to the friendly government report from Thursday, but

Based on last week’s price action and the close at $62.01, the direction of the August Brent crude oil futures contract on Monday is likely to be determined by trader reaction to the 50% level at $62.93 and the 61.8% level at $60.32. Holding inside this zone will be another