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Looking at dollar delivery volume for July shows that this month is now the largest July ever. Unlike gold, the house accounts are net receivers of metal so far this month and BofA has delivered out a mere 97 total contracts. The Fed knows the economy cannot take much more tighten...
Despite being extremely oversold following a 2-year sell-off, Gold could still break 1675 to complete its correction. Given the pounding that Silver has endured relative to Gold, it may have already bottomed out courtesy of multiple positive divergences. Beyond extreme oversold wi...
There has been a dramatic fall in Treasury yields in the past month and an equally dramatic fall in energy, metals, and agricultural commodities. The Ukraine situation holds many unknowns, as it is a major driver of financial markets and there is no end in sight as to when the fightin...
From a risk-reward profile, the technical data is signaling a massive skew to the upside in Gold relative to the downside risk. Sentiment is still relatively neutral in Gold but falling fast. The Fed’s tightening policy and the activities of the Bullion Banks continue to pu...
On Wednesday, the Consumer Price Index came in at a 9.1% annual rate. The higher-than-expected reading puts the CPI at a new 41-year high. Businesses are also getting squeezed. On Thursday, the Producer Price Index showed wholesale costs rising at a massive 11.3% year-over-year. T...
Commodities had a sharp pullback in the month of June. The industrial metals sector led the decline, falling 14% in the month of June. Near-term markets are adjusting to slower global growth expectations and fears over the demand outlook. Commodities took a dip in June, ...
Throughout the year, the Federal Reserve Note has been gaining ground against the euro, the yen, and other fiat currencies. Currency markets may be overestimating the Fed’s willingness to continue tightening monetary policy aggressively. Market cycles are often driven based...
While resiliency is a positive sign for the economy, a strong job market will make it harder for the Fed to bring down inflation. The Labor Force Participation rate dropped back to 62.2%. YoY, this June is lower than last June by 185k jobs. Despite a job report that beat expectati...
Despite all the bullish signals, precious metals and miners continued lower this week. Silver is way more bearish than gold right now, so silver is likely closer to its bottom and will blow past gold once the rally begins. Commercials continue to have their lowest short position s...
The SPX should be bottoming out for the next few months. The metals are setting up their own bottoming. The TLT could see one more lower low before a major rally takes hold. For those that have been reading me lately, you would know that I have been taking a lot more tim...