|Day's Range||16.425 - 16.635|
There is also some risk aversion in the marketplace today that might also be giving gold some mild support. Unfortunately for the gold market bulls, their yellow metal last Friday wanted to act like a raw commodity instead of a safe-haven store of value.
Royal Gold, Inc. is benefiting from recent investments and using improved gold prices to get ready for its next round of growth
Australia's South32 Ltd has bid $1.3 billion to take full control of Arizona Mining, offering a hefty premium for the Toronto-listed firm which is developing zinc, lead, manganese and silver assets. The offer of C$6.20 per share was pitched at a 50 percent premium to Arizona's last close and implies a total equity value for Arizona Mining of $1.6 billion, South32 said in a statement. The Australian firm already holds a 17 percent stake in Arizona.
The FTSE 100 initially tried to rally during the week, breaking out towards the 7800 level before turning right back around to form a shooting star. This is an area that has been very noisy to begin with, and it is a recent high, so it makes sense that we continue to struggle to find directionality.
Silver markets initially rallied significantly during the week, reaching towards the $17.50 level, but have rolled over rather drastically, forming a massive shooting star. This shows just how much uncertainty there is out there, and as money flows to the US dollar, it flows away from the Silver markets. However, even with the negativity of this candle for the week, we are still within the overall range.
The natural gas markets rallied significantly during the week, breaking through the $3.00 level on Friday, an area that has been massive resistance. However, with a natural gas pipeline catching fire in Kansas on Friday, this was reason enough for the market to turn around and continue the upward pressure as this should bring down supply, at least for the short term.
Silver markets got absolutely shellacked on Friday as we reached down to the $16.50 level rather quickly. The market looks as if it is going to continue to struggle based upon the tariffs taking over the headlines. As money flows into the U.S. Treasury market, it makes sense that the US dollar strengthens. This is a correlation that should continue.
Investing.com - Gold prices traded lower in morning European trade but remained on track to register a second consecutive weekly gain as investors waited for U.S. President Donald Trump to approve tariffs on goods on Chinese goods worth about $50 billion.
The gold market was extremely volatile and noisy in the Thursday’s session as it tried to break above the $1308 level, the area which is very resistive. If the market breaks above this level and successfully stays above for significant amount of time, it should send the market towards the $1325 level. There are plenty of support levels underneath and long-term uptrend line is coinciding at the $1290 level underneath.
Silver markets rallied significantly during the trading session on Thursday, breaking above the $17 level and reaching towards the $17.30 level. We have pulled back a little bit since then, but it certainly looks bullish as we have broken above a large come around, psychologically significant number.
NEW YORK (Reuters) - The Toronto Stock Exchange's S&P/TSX rose 63.14 points, or 0.39 percent, to 16,328.96. The biggest contributor to the TSX gain was Enbridge Inc adding 6.9 points to the index. The materials sector was the top sector contributor with a 15.9 point contribution to the upside. Leading performers in the index were CES Energy Solutions Corp , up 8.5 percent, Yamana Gold Inc , up 5.6 percent, and Fortuna Silver Mines Inc , higher by 3.8 percent. Lagging shares were Prometic Life Sciences Inc , down 6.1 percent, TransAlta Renewables Inc, down 5. ...
For all the talk about bitcoin’s extreme volatility, a risk for investors that doesn’t get as much attention is market manipulation. To the extent that upstart crypto-trading exchanges have technology in place to root out wrongdoing, it’s often homegrown and may not meet wider industry best practices. Increasingly, however, academics and government watchdogs are digging…
After trading with a weakness for three weeks, crude oil started this week on a stronger note and gained in the first three trading days of the week. On June 14, crude oil started the day on a stable note. Crude oil was trading above opening prices in the early hours.
The gold prices were initially sideways during the yesterday’s session but after the FOMC outcome, it rallied higher towards the $1300 level. The silver market showed strength during the yesterday’s session as it rallied towards the $17 level but got enough resistance there. The crude oil prices rallied significantly during the yesterday’s session grinding to the $66.25 level before pulling back slightly after bullish inventory numbers from the US.
Graham Birch Graham Birch, a former BlackRock fund manager, now owns and runs two farms in southwest England. The Londoner ran funds that invested in gold and other metals while working as head of BlackRock’s natural-resources investment team.
Silver markets rally during the day on Wednesday, reaching towards the $17 level before running into a significant amount of resistance. If we can break above that level, that should be a very bullish sign and send this market to much higher levels. Pullbacks are possible, as it is a large come around, psychologically important number.
The gold market was very noisy in the Tuesday’s session and at one point of time it reached down towards the $1293 level. The silver prices initially pulled back a bit reaching towards the $16.75 level but bounced higher from there reaching $16.90 level above. The crude oil prices initially dropped during the yesterday’s session but found enough strength to start rally.
Precious metals are currently trapped in a short price band with resistance and support from high and low price handles of last 10 trading sessions as risk appetite increased among investors with US inflation data and US Fed & ECB rate decision in focus.
One of Narendra Modi’s most enduring images as prime minister has him performing yoga on Rajpath, New Delhi’s main boulevard, along with hundreds of Indians behind him. That was the first International Yoga Day, June 21, 2015, a United Nations event that the Indian leader was instrumental in instituting. It was projected as an extension…
After declining for three consecutive trading weeks, crude oil started this week on a stronger note by rising to ten-day high price levels on Monday. On June 12, crude oil opened on a stable note and was trading with strength in the early hours.
Gold imports into India, the world's second biggest buyer of the metal, could drop by 18 percent in 2018 from a year ago as rising prices and a falling rupee have dented demand from retail jewellery buyers, according to a Reuters poll. India imported 880 tonnes of gold in 2017, according to data compiled by precious metals consultancy GFMS, a division of Thomson Reuters. A drop in imports from India could weigh on global prices but would help the South Asian country reduce its trade deficit.
Gold prices eased on Tuesday as the dollar strengthened amid encouraging signs from a historic U.S.-North Korea summit and a likely interest rate hike by the U.S. Federal Reserve, limiting demand for the yellow metal.