Posts Tagged ‘Copper’
Gold and Oil News - August 24, 2024 16:06
Gold and Copper Markets Respond to Powell
On Friday gold jumped over 1% to unprecedented highs after the dollar and Treasury yields fell. The movements followed remarks from Federal Reserve Chair Jerome Powell that suggested an interest rate reduction in September. Concerns about inflation near the Fed’s 2% goal added to signs of lower interest rates, as Powell’s comments did. For a […]
US Stock Market Faces Turbulence and Mixed Commodity Reactions
The US stock market took another hit on Friday and managed to finish a disastrous week in the red as poor economic news coupled with weak earnings from some major tech players continued an alarming five-day collapse. The decline was itself heightened by recently-released non-farm payroll figures that showed a modest 114,000 jobs added to […]
Strength in Gold and Copper Continues – But for How Long?
As we start the new week, gold has displayed gains during the early parts of Monday’s trading, this implies that the precious metal is potentially reversing from its past week’s declines. However, despite the challenges it faced in the past week, overall gold remains in an uptrend, and it is supported by a number of […]
The Beat Goes On — S&P Sets New Record
All of the money being printed by the major central banks simply has nowhere else to go. Today the S&P 500 rallied again late in the session as managed money went bargain hunting with newly minted dollars, yen and euros. The benchmark equity index closed at 1650.34 (+1.02%) while the Dow Jones Industrial Average rose […]
Gold and Silver End the Week Range Bound
Bravo to the money masters this week, pushing and pulling the timing of the news to reinforce a range trade in Gold and Silver. This is keeping the mo mo monkeys out of the market — a game that has been going on now since the first day of trading this year when the price […]
Gold Ends Week Up $54, Silver up $.70
Gold and Silver both were on their way to their best weeks in more than year when a major sell off occurred just after the European close at 11am EST. Zerohedge speculated that it could have been margin-related selling with some long liquidation to shore up losses in other markets. But, seeing as not only […]
Commodity and Equity Bifurcation Continues Towards Plaid
The markets have gone plaid. We had horrible Chinese and German flash PMI data come out this morning which kept commodity prices under duress all day. Copper continues its trek towards $3.00 per lb. Silver broke back below $23 after challenging $24 yesterday. The grain complex was whacked across the board in late session trading […]
Oil Ends Week Near Lows, S&P Levitates
Let it not be said that the Federal Reserve is not dogged in their pursuit of market conditions that it deems as necessary. Strategic commodities like oil and copper were pummeled this week and in previous weeks while the equity market on, frankly, horrific early earnings reports, continues to levitate. With today being options expiration […]
Gold Gives Up Ground in Quiet Monday Trading
Today’s action in the gold pits was as predictable as night following day. There was no major headline or economic data point to react to which meant an opportunity to create more stability after Friday’s substantial move back over $1580 per ounce. Coming into the European open gold had put on a couple of dollars, […]
Brent Prices Continue to Soften
Brent crude prices have been falling steadily for the past three weeks having come down from $119 per barrel to $109 per barrel. It has been a relentless drubbing that coincided with the peak of the Euro and further exacerbated by the results of the Italian election along with poor commodity demand numbers hitting the […]
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- Strength in Gold and Copper Continues – But for How Long?
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