понедельник, 31 декабря 2018 г.

Liked on YouTube: Tuff Carbon Wheels Review: The Conclusion!

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I've ridden the Tuff Carbon 29er XC mountain bike wheels for a few months, to include the Off Road Assault on Mt. Mitchell. Here is my final review of the wheels. Tuff wheel discount code ($100 off): clint100 Unboxing video: https://www.youtube.com/watch?v=2fWl_0m_hn4 Mounting tubeless tires on these wheels video: https://www.youtube.com/watch?v=0FMLJ9hwUhE&t=425s Wheel testing kickoff video: https://www.youtube.com/watch?v=3SqZ_p3ZK2o Ride review: https://www.youtube.com/watch?v=sUf_s8Xo-Ac&t=163s
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Liked on YouTube: Riding the Tuff Carbon MTB Wheels - Clint Gibbs

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Trail riding review by Clint Gibbs on TUFF 921 carbon mountain bike wheels with DT350 hubs https://www.youtube.com/watch?v=sUf_s8Xo-Ac http://bit.ly/2VjLnJH TUFF 921 carbon XC MTB rims DT Swiss 350 boost mountain bike hubs
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Silver Starts A Breakout Move Higher



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Gold Takes Investors On Roller-Coaster Ride In 2018



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Gold Is Breaking Out Against USD



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Gold: Options And Futures Analysis For December 31, 2018



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This Past Week In Precious Metals



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Commodities Week Ahead: Few Clues On Oil As 2019 Starts; Gold Rally Seen



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Silver Market Update



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воскресенье, 30 декабря 2018 г.

Silver Seems Steady Before A Breakout On December 31st, 2018



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Will Gold See Yearly Closing Above $1302?



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Base Metals: Canaries In The Coal Mine For January 2019?



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Gold’s Leading Indicators Looking Better



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Gold Forecast 2019: If Only That Were The Price, Not The Year



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Could Bullish Engulfing Encourage Silver Bulls?



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Golden Cross Will Encourage Gold Bugs



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Gold Review For December 29, 2018



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суббота, 29 декабря 2018 г.

Liked on YouTube: How long does SUBOXONE stay in your system

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пятница, 28 декабря 2018 г.

Will Coins And Bars Save Gold?



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Gold Technicals: Dec. 28



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Silver Dec. 28 Update



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Gold Shows Commitment To Rise Further



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четверг, 27 декабря 2018 г.

Can Gold Swim In A Crosscurrent?



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Gold Climb Continues As Consumer Confidence Sinks



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Gold: Charged Bulls Ready To Bounce Above $1302



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Commodities 2018 Review: Tweets To Murder Accompany Boom-To-Bust Markets



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среда, 26 декабря 2018 г.

Gold And Gold Stocks Are Moving Toward A Bull Market



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Gold Bugs Breaking Above Multi-Year Resistance; Good News In Play



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Frank Holmes Predicts Gold Explosion To The Upside



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Gold Bulls Charging Ahead



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понедельник, 24 декабря 2018 г.

XAU/USD Technical Analysis December 24, 2018



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Market’s Misery Translates Into Gold Luster



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This Past Week In Precious Metals: 12/24/2018



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Silver December 24 Analysis



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Commodities Newsmaker 2018: Trump And The Tweets That Transformed Oil



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воскресенье, 23 декабря 2018 г.

Silver Seem Steady Amid Volatilty



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Gold Ready For A Bounce Amid Sliding Equity Markets



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Gold Flexes Its Sinews As Toward Our Target The S&P Continues



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Palladium Review December 23, 2018



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Copper Speculators Reduced Bets To Bearish Position This Week



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Silver Speculators Raised Their Bullish Bets For 3rd Week To 5-Month High



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Gold Speculators Continued To Advance Their Bullish Bets For 3rd Week



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пятница, 21 декабря 2018 г.

Will Miners Save Gold?



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Financialization And The Volatility Of Commodity Prices



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Third Stage Gold



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XAU/USD Rally



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среда, 19 декабря 2018 г.

Silver December 20 Preview



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Gold To Break Above 200-DMA On Dovish FOMC?



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NG, WTI And Gold Sing Same Tune Before Fed



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Gold Bulls Just Regained The Upper Hand



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Silver December 19 Preview



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Gold December 19 Preview



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понедельник, 17 декабря 2018 г.

Silver December 18 Preview



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Gold December 18 Preview



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This Past Week In Precious Metals: 12/15/2018



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Gold Market Update



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Silver Market Update



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Elliott Wave Gold: Decline Suggests Upside



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Final Monthly MMI Report Of 2018



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The Surprising Major Demand Factor That Drives The Gold Price



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Gold December 17 Analysis



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Palladium December 17 Preview



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воскресенье, 16 декабря 2018 г.

Gold's Rally Abates; Stocks' Correction Dilates



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Will Gold Join USD As A Safe Haven?



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Gold-Stock Triple Breakout



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Gold: Outlook December 16th - 31st



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'Hard' Brexit Risk Sees Gold Gains In Euros And Pounds



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Silver Speculators Sharply Lifted Their Bets Into A New Bullish Position



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Gold Speculators Pushed Bullish Bets Higher This Week



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Copper Speculators Reduced Bullish Bets For 3rd Week



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Silver December 17 Preview



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Gold December 17 Preview



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пятница, 14 декабря 2018 г.

Iron Ore Surges On Chinese Infrastructure Spending Expectations



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Gold Looks Ready For A Technical Bounce



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Gold Dec. 14 Preview



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Silver Dec. 14 Preview



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четверг, 13 декабря 2018 г.

Gold Technicals: Dec. 14 Preview



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Silver Technicals: Dec. 14 Preview



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Gold, Silver, WTI Analysis December 13



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Gold And Silver To Pullback Before Next Move Higher



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Some Christmas Cheer For Gold Bugs



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Gold December 13 Preview



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Silver: December 13 Preview



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вторник, 11 декабря 2018 г.

Gold December 12 Preview



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Silver December 12 Preview



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Gold Yet To Restore Investor Confidence



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IMM Positioning Update - From Low Levels Investors Massively Add Long Gold Positio



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Gold Analysis December 11



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Silver December 11 Analysis



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Gold Speculators Strongly Boosted Bullish Bets To Best Level In 20 Weeks



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Silver Speculators Cut Their Bearish Bets To Lowest Level In 17 Weeks



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Weekend Report…The Amazing Story Of Gold To Gold Stocks Ratios.



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понедельник, 10 декабря 2018 г.

Elliott Wave: Gold Intra-Day Reversal



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Silver Investors See Palladium As “Canary In Coal Mine”



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The Fundamental Backdrop Turns Bullish For Gold…Almost



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This Past Week In Precious Metals: GLD On Buy Signal



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Waiting For Gold To Erupt



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воскресенье, 9 декабря 2018 г.

Stock Selloff Boosting Gold



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Gold And Silver Prices Rise As The Markets And Oil Decline



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Gold Bounces Back Into The Box



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Gold: Outlook For The Week Of December 9th, 2018



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Platinum December 10 Preview



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Palladium December 10 Preview



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Gold December 10 Preview



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пятница, 7 декабря 2018 г.

Is An Inverted Yield Curve Bullish For Gold?



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Gold Prices Rally As U.S. Dollar Weakens On Dovish Fed Chairman Comments



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XAU/USD: Wave Analysis And Forecast For Dec. 7-14, 2018



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Silver At Historic Price Juncture: Which Way Will It Break?



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четверг, 6 декабря 2018 г.

Panic Buying Hits Palladium Market: What Comes Next?



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Another Dire Warning For Stocks? It Was In 2000 And 2007



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Gold Tests $1240 Resistance After Elliott Wave Setup



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Gold Bugs Circle The October High



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Gold - A Technical Analysis



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Can Gold Steal A March On The Dollar?



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среда, 5 декабря 2018 г.

Gold And Palladium Shake Hands



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Gold Hits Resistance Near 1243 and Pulls Back



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METALS MORNING VIEW 05/12: Metal prices consolidate while broader markets show weakness

Three-month base metals prices on the London Metal Exchange were mixed in the morning of Wednesday December 5, with zinc and copper up by 0.4% and 0.3% respectively, while the rest of the complex was little changed or weaker.

This follows a volatile day in markets on Tuesday, when the base metals were mixed, but when US equity markets were hit hard by nervousness over the flattening of the yield curve, which has inverted in some places.

Volume across the complex has been above average with 5,947 lots traded as at 7:20am London time.

The precious metals were weaker on Wednesday. Gold fell by 0.3% to $1,234.50 per oz recently while palladium was 0.5% lower. Silver was off 0.7%.

In China this morning, January contract prices for base metals on the Shanghai Futures Exchange were mixed, with copper off by 1.2% at 49,330 yuan ($7,186) per tonne, nickel off by 0.8% and aluminium off by 0.5%, while the rest were up between 0.2% for tin and 0.5% for lead.

Spot copper prices in Changjiang were down by 0.9% at 49,350-49,630 yuan per tonne and the LME/Shanghai copper arbitrage ratio was firmer at 7.97, compared with 7.91 on Tuesday, this suggests Chinese copper prices have not pulled back to the same extent as LME copper prices.

In other metals in China, the May iron ore contract on the Dalian Commodity Exchange was up by 2.5% at 477.50 yuan per tonne. On the SHFE, the May steel rebar contract was up by 3.9%. The fact these basic building block metals and ore prices are strengthening bodes well and suggests yesterday’s weakness was more to do with the yield curve rather than President Donald Trump’s tweets on trade.

In wider markets, spot Brent crude oil prices were easier, off by 0.2% $61.10 per barrel – the recent low being $57.52 per barrel. The yield on US 10-year treasuries was weaker and has dropped below the 3% level to 2.9109% and the yield on the US 2-year and 5-year treasuries were at 2.7988% and 2.7870% respectively. The German 10-year bund yield has dropped to 0.2600%. The weaker yields suggest investors expect the US Federal Reserve to slow the pace of interest rate rises, but the inverted yield curve is seen as a warning that an economic slowdown may be on the way.

Asian equity markets on Tuesday have followed the US markets lower: the Nikkei (-0.53%), the CSI 300 (-0.48%), the ASX 200 (-0.78%), the Kospi (-0.62%) and the Hang Seng (-1.59%).

This follows extremely weak performances in US markets on Tuesday, where the Dow Jones closed down by 3.1% at 25,027.07, while in Europe, the Euro Stoxx 50 was down by 0.8% at 3,189.25.

The dollar index spiked lower to 96.37 on Tuesday, but closed at 96.95 and was recently quoted at 97.11 – the stronger dollar and weaker US Treasury yields do not go hand-in-hand, suggesting the dollar was up for safe-haven reasons, and yesterday’s stronger yen (113.02) would support that view. The euro is consolidating around 1.3333, while the Australian dollar (0.7297) and sterling (1.2710) are weaker.

The rebound in the yuan has halted for now with the currency recently quoted at 6.8661 – this suggests confidence in the trade developments. The other emerging market currencies we follow are for the most part on a back footing, suggesting risk-off.

In data already out on Wednesday, China’s Caixin Services purchasing managers index (PMI) rebounded to 53.8 from 50.8 previously, later there is data on Spanish, Italian, French, German, European Union and United Kingdom services PMI, EU retail sales and the US beige book. In addition, European Central Bank Mario Draghi is speaking.

Copper prices have been the hardest hit by in recent days. Having spiked up to $6,352 per tonne on Monday on the trade news that came out of the G20 meeting, the selling has returned and prices are back in mid-ground. The other metals have done better at holding on to their gains following the trade developments, which suggests they may be being more reflective of what the trade deal means. It may be that copper has been the hardest hit as Comex copper was open yesterday evening when the Dow Jones was under pressure. Given the trade truce and the tightening fundamentals, we still expect a gradual switch to a “glass half full” outlook, from the “glass half empty” one we have held since June.

Gold prices have pulled back from Tuesday’s highs but the uptrend seems intact. With the US treasury yields falling we expect the dollar to head lower and that in turn is expected to support a firmer gold price.

The post METALS MORNING VIEW 05/12: Metal prices consolidate while broader markets show weakness appeared first on The Bullion Desk.



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METALS MORNING VIEW 04/12: Metals prices rebound again after Monday’s rally ran into selling

Price gains inspired by the trade developments at the Group of Twenty (G20) summit over the weekend were sold into during afternoon trading on Monday December 3, but likewise the dips have been bought into again this morning.

Three-month base metals prices on the London Metal Exchange were up by an average of 0.5% on Tuesday morning, with all of the metals – bar nickel which was unchanged – in positive territory.

The fact the post-G20 reaction has not led to a huge spike higher means the uptrend may be more sustainable, especially as the dip has been bought into.

Volume across the complex has been above average with 7,536 lots traded as at 7.44am London time.

The precious metals were also stronger this morning with gains averaging 0.4%, helped by a weaker dollar and a stronger crude oil price.

In China this morning, the January contract prices for base metals on the Shanghai Futures Exchange were mixed, with copper off by 0.7% at 49,660 yuan ($7,193) per tonne and lead off by 0.3%, while the rest were up between 0.1% for aluminium and 1.1% for zinc.

Spot copper prices in Changjiang were down by 1.1% at 49,850-50,040 yuan per tonne and the LME/Shanghai copper arbitrage ratio was weaker at 7.91, compared with 7.94 on Monday – suggesting the LME is leading the stronger tone.

In other metals in China, the May iron ore contract on the Dalian Commodity Exchange was up by 1.8% at 472 yuan per tonne. On the SHFE, the June steel rebar contract was up by 1.3%.

In wider markets, spot Brent crude oil prices were stronger, up by 0.73% $62.32 per barrel – the recent low being $57.52 per barrel. The yield on US 10-year treasuries was weaker and has dropped below the 3% level to 2.9561%, while the German 10-year bund yield has dropped to 0.2980%. The weaker yields suggest investors expect the US Federal Reserve to slow the pace of interest rate rises.

The enthusiasm seen in Asian equity markets on Monday has faded – the CSI 300 was up 0.21% on Tuesday, but the other indices we follow were lower: the Nikkei (-2.39%), the ASX 200 (-1.01%), the Kospi (-0.82%) and the Hang Seng (-0.03%).

This follows strong performances in western markets on Monday; in the United States, the Dow Jones closed up by 1.13% at 25,826.43, while in Europe, the Euro Stoxx 50 was up by 1.32% at 3,214.99.

The dollar index is weakening, with weaker US Treasury yields no doubt weighing on sentiment – the index was recently quoted at 96.69. The other major currencies we follow are for the most part firmer: euro (1.1391), the Australian dollar (0.7382) and the yen (113.06), while sterling (1.2765) is consolidating.

The yuan has continued to rebound and was recently quoted at 6.8400 – this suggests confidence in the trade developments. The other emerging market currencies we follow are mixed, suggesting a degree of uncertainty, although the ringgit is stronger, probably reflecting the stronger oil price.

In data already out on Tuesday, Spanish unemployment fell for the first time since July in November, declining by 0.06% from a month earlier. Later, we have data on UK construction spending, the EU’s producer price index, there is an EU Economic and Financial Affairs Council meeting and data on US economic optimism. In addition, Bank of England governor Mark Carney, US Federal Open Market Committee (FOMC) member John Williams and UK Monetary Policy Committee member Gertan Vlieghe are speaking.

Despite the selling that capped Monday’s price spikes, the fact buying has been seen again this morning is encouraging and suggests sentiment has turned more positive. The JP Morgan global manufacturing purchasing managers’ index (PMI) held at 52.0 in November, suggesting the global economy is still expanding – albeit weakly – but this might now pick-up as the trade threat eases. We now wait to see if there is further follow-through buying on the back of the metals’ fundamentals. On balance, we expect a gradual switch to a ‘glass half full’ outlook, from the ‘glass half empty’ – one we have been in since June.

Gold prices are on the climb again and are a few dollars away from breaking above the October highs at $1,243.45 per oz. A weaker dollar and an escalation in US/Iran tensions, following Iran’s test-firing of a medium-range ballistic missile, are providing support. Silver is following gold’s lead, platinum remains weak, while at the other end of the spectrum, palladium prices remain strong having set fresh record highs on Monday.

London Metal Exchange, base metals prices, precious metals prices

Shanghai Futures Exchange, base metals prices, precious metals prices

economic data

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METALS MORNING VIEW 03/12: Metals react positively to G20 trade developments

Some progress at the Group of Twenty (G20) summit on US-China trade has given the three-month base metals prices on the London Metal Exchange a boost, up by an average of 1.4%.

The LME zinc price gained 1%, while copper was up 1.9% and recently quoted at $6,314 per tonne. Volume across the complex has, not surprisingly, been strong with 14,686 lots traded as at 6:53am London time.

The precious metals were stronger too with gains averaging 1.1%, helped by a weaker dollar and reports that Qatar is to leave Opec, which, combined with the trade developments, has led to a 5% bounce in crude oil prices.

In China this morning, the January contract prices for base metals were stronger by an average of 1.9%; led by a 3.4% rise in zinc, while copper was up 1.1% at 50,120 yuan ($7,266) per tonne.

Spot copper prices in Changjiang were up by 1.5% at 50,310-50,700 yuan per tonne and the LME/Shanghai copper arbitrage ratio was weaker at 7.94, suggesting the LME is leading the stronger tone.

In other metals in China, the May iron ore contract on the Dalian Commodity Exchange was up by 1.9% at 463 yuan per tonne. On the SHFE, the June steel rebar contract was up by 1.2%.

In wider markets, spot Brent crude oil prices had jumped by 5.06% this morning, to $62.09 per barrel – the recent low being $57.52 per barrel. The yield on US 10-year treasuries was firmer at 3.0447%, as was the German 10-year bund yield at 0.3400%, suggesting less risk-on in the markets.

Asian equity markets have reacted strongly to G20 developments with prices higher on Monday: the Nikkei (1.0%), the ASX 200 (1.84%), the Kospi (1.67%), the Hang Seng (2.40%) and the CSI 300 (2.77%).

This follows mixed performances in western markets on Friday; in the United States, the Dow Jones closed up by 0.79% at 25,538.46, while in Europe, the Euro Stoxx 50 was off slightly by 0.3% at 3,173.13.

The dollar index is weakening, but remains in mid-range and was recently quoted at 96.79. The other major currencies are for the most part firmer: euro (1.1376), the Australian dollar (0.7375) and sterling (1.2787), but the yen is weaker at 113.51, again suggesting a degree of risk-on.

The yuan has jumped and was recently quoted at 6.8906, while the other emerging market currencies we follow are mixed, most are firmer or little changed, while the rupee is weaker.

The economic agenda is busy with the release of manufacturing purchasing managers’ index (PMI) data, which is out across all regions. Japan’s reading came in at 52.2, up from a previous reading of 51.8 and China’s 50.2 just beat the 50.1 that was expected. Hopefully the respite in the trade war will help fuel an economic rebound in China and prevent the PMI slipping below the 50 level which would imply the economy is contracting. Other data that is out later includes US construction spending, US ISM manufacturing prices and US total vehicle sales.

In addition Federal Open Market Committee (FOMC) member Richard Clarida is speaking three times, and FOMC member Lael Brainard and UK Monetary policy committee member Andrew Haldane are also speaking.

The G20 developments have seen the base metals prices gap higher, key will now be what follow-through action there is. Indeed, the developments have removed the immediate fear of the negative situation escalating which should give the global economy and commodities time to reflect their fundamentals again, which we think should be bullish.

For now, with the global economy receiving a boost, the rising tide is lifting all the metals we follow and rising oil prices should also be bullish for gold/commodity prices, especially if investors start to get interested in buying into commodity baskets.

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The post METALS MORNING VIEW 03/12: Metals react positively to G20 trade developments appeared first on The Bullion Desk.



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METALS MORNING VIEW 30/11: Base metals prices firm despite disappointing China data

Three-month base metals prices on the London Metal Exchange were firm on the morning of Friday November 30 despite the release of weaker-than-expected economic data from China earlier in the day.

The three-month tin price led the gains with a 0.6% increase to $18,620 per tonne and was closely followed by zinc and nickel, which were both up by 0.4%. Copper and lead managed to eke out mild gains of 0.2%, with the former at $6,215 per tonne, while aluminium was unchanged. Still, overall sentiment in the LME base metals was fairly positive with prices up by an average of 0.3%.

With November drawing to an end and investors focusing on the weekend’s Group of Twenty (G20) summit in Argentina, trading volumes have been low this morning – only 3,012 lots had been traded across the LME three-month base metals as at 6.26am London time.

In the precious metals, demand for haven assets remains fairly muted despite the softer dollar of late. Gold and silver prices were unchanged at $1,224 and $14.30 per oz respectively, but platinum continues to underperform with a drop of 0.4% to $815.10 per oz.

Conversely, platinum’s sister-metal palladium recorded a fresh record high of $1,191 per oz earlier this morning – it was recently at $1,118.40 per oz.

In China, most of the January contract prices for base metals on the Shanghai Futures Exchange were up – the exceptions being aluminium and tin with falls of 0.7% and 0.1% respectively. Nickel and zinc recorded solid gains of 1.8% and 1.5% respectively, while copper and lead were more subdued with respective increases of 0.2% and 0.1%. On average, base metals prices on the SHFE were up by 0.5%.

Spot copper prices in Changjiang were a tad weaker, down by 0.1% to 49,760-49,800 yuan ($7,164-7,170) per tonne and the LME/Shanghai copper arbitrage ratio was at 7.96.

In other metals in China, the most-traded January steel rebar contract on the SHFE was off by 1.8%, while the SHFE June contracts for gold and silver were up a modest 0.4% and 0.3% respectively. The January iron ore contract on the Dalian Commodity Exchange (ZCE) edged up 5 yuan per tonne to 479 yuan per tonne.

In wider markets, spot Brent crude oil has attracted some bargain-buying near $60.00 per barrel this morning. In the bond market, US 10-year treasuries were slightly weaker, down by 0.07% at 3.0248 and similarly, the German 10-year bund yield was off by 0.36% at 0.3200.

The recent recovery in the US equity market has started to stall after it closed on a negative note on Thursday. Traders turned cautious amid fresh concerns that growth in the US economy has started to show signs of peaking. Sentiment was overshadowed by October’s weaker-than-expected pending home sales data. That said, Asian equity indexes were mostly higher this morning and largely ignored the overnight release of the negative Chinese economic data: Nikkei (0.4%), Topix (0.48%), Hang Seng (0.47%) and China CSI 300 (1.12%).

Following the sell-off on Wednesday, the dollar index has started to stabilize at 96.82. The other major currencies we follow were a tad weaker: the Australian dollar (0.7313), the euro (1.1384) and Sterling (1.2779).

It has been a busy start in terms of economic releases, with data already out showing China’s manufacturing and non-manufacturing purchasing managers’ index (PMI) data coming in well below market expectations at 50.0 and 53.4 respectively. In Japan, consumer confidence dipped to 42.9, from 43.0 previously and house starts were weaker than forecast at 0.3%. German data was mixed with the import price index for October up by 1%, beating an expected rise of 0.4%, while retail sales for the same month were down by 0.3% – against an expected 0.4% increase.

Later, we have the European Union’s headline and core flash consumer price index (CPI) and the Chicago PMI from the US. In addition, US Federal Open Market Committee member John Williams is due to speak.

The uncertainty surrounding this weekend’s G20 summit continues to dominate market focus. While base metals prices were largely up this morning, gains have been limited and should remain so until more direction emerges from G20 meetings. That said, any resolution from the summit would allow the base metals, which are generally in low ground, to stage an end-of-year rally, we feel. This is because a lot of the selling has run its course and a potential ceasefire or some type of framework to end the trade dispute between China and the US would likely attract pent-up demand from consumers looking to restock.

The precious metals, meanwhile, remain relatively quiet, though any tough rhetoric from either US President Donald Trump or his Chinese counterpart is likely to spark demand for haven assets. That said, platinum continues to struggle against the threat of US tariffs on automobile imports.

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The post METALS MORNING VIEW 30/11: Base metals prices firm despite disappointing China data appeared first on The Bullion Desk.



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METALS MORNING VIEW 29/11: Metals prices consolidate gains after Fed comments, focus shifts to G20

Three-month base metals prices on the London Metal Exchange were being pushed and pulled by cross currents this morning, Thursday November 29. Nickel, lead and tin showed gains averaging 0.4%, while copper, aluminium and zinc were down by an average of 0.4%. Copper was off by 0.4% at $6,230 per tonne.

Volume across the complex has been average with 5,189 lots traded as at 7.33am London time.

Wednesday’s more dovish tone from US Federal Reserve chairman Jerome Powell, saying that the central bank may soon be in a position to pause the interest rate hikes, had boosted confidence in the base metals market. As a result, base metals prices on the LME closed up with average gains of 1.4% on Wednesday, while equites rebounded, yields fell and the dollar weakened.

With the dollar weaker, the precious metals were for the most part firmer this morning; gold, silver and platinum prices were up by an average of 0.5%, with gold at $1,226.80 per oz, while palladium prices were consolidating.

The market is looking more confident this morning due to Wednesday’s Federal Reserve comments, but likewise it is still nervous about what developments there will be on trade at this weekend’s Group of Twenty (G20) summit, and so trade issues are likely to dominate for the rest of the week.

In China this morning, most of the January contract prices for base metals were firmer; led by a 1.2% rise in copper to 49,550 yuan ($7,124) per tonne, zinc, lead and nickel were up by an average of 0.7%, while aluminium and tin prices were down by 0.2%.

Spot copper prices in Changjiang were up by 1.3% at 49,670-49,860 yuan per tonne and the LME/Shanghai copper arbitrage ratio was weaker at 7.95 after 7.99 on Wednesday, suggesting the LME is leading the stronger tone.

In other metals in China, the January iron ore contract on the Dalian Commodity Exchange was up by 1.3% at 476 yuan per tonne. On the SHFE, the January steel rebar contract was off by 0.2%.

In wider markets, spot Brent crude oil prices were firmer this morning, up by 1.01% at $59.16 per barrel – the recent low being $58.42 per barrel. The yield on US 10-year treasuries was considerably weaker at 3.0180%, while the German 10-year bund yield was also weaker at 0.3355%.

Asian equity markets were mixed on Thursday: the Nikkei (0.39%), the ASX 200 (0.58%), the Kospi (0.28%), the Hang Seng (-0.92%) and the CSI 300 (-1.3%).

This follows stronger performances in western markets on Wednesday; in the United States, the Dow Jones closed up by 2.5% at 25,366.43, while in Europe, the Euro Stoxx 50 was up by 0.06% at 3,168.29. Powell’s comments came too late in the day to impact European equities, plus the European auto sector will still be concerned over whether President Donald Trump will impose a 25% tariff on imported vehicles.

The dollar index is weakening on the back of the Federal Reserve comments and was recently quoted at 96.65 – we wait to see if the comments turn out to be a trend changer for the dollar. Needless to say the other major currencies are firmer following the comments: yen (113.28), euro (1.1394), the Australian dollar (0.7330) and sterling (1.2831).

The yuan remains in low ground and was recently quoted at 6.9435, while the other emerging market currencies we follow are firmer due to the weaker dollar.

The economic agenda is busy – data already out shows French gross domestic product (GDP) growth unchanged at 0.4% and Spanish consumer price index (CPI) at 1.7%. Later there is data on German unemployment, UK lending and US releases that include personal income, spending and prices, initial jobless claims, pending home sales and natural gas storage. In addition, European Central Bank President Mario Draghi is speaking and this evening the latest US Federal Open Market Committee (FOMC) meeting minutes are released.

Wednesday saw the base metals gain some momentum which has boosted lead, aluminium, zinc and tin off recent lows, while nickel prices remain around the lows and copper is looking the best to try to break higher. Copper does, however, face considerable resistance on the charts between $6,296 and $6,394 per tonne – so with the uncertainty surrounding G20, we expect the upside will remained capped until the outcome of G20 is known.

Gold, like copper, is well placed to push higher and if there is follow-through enthusiasm about Powell’s comments then a weaker dollar could underpin a stronger gold price. Silver looks set to follow gold’s lead, while the platinum group metals may hold back as the auto market may be about to face stronger headwinds from tariffs.

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The post METALS MORNING VIEW 29/11: Metals prices consolidate gains after Fed comments, focus shifts to G20 appeared first on The Bullion Desk.



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вторник, 4 декабря 2018 г.

Gold Hits 6-Week High As Risk Appetite Sours



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Showdown Looms On Federal Spending, Border Wall



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Trade Truce And Gold



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Chart of the Day: The Real Reason For The Gold Bounce



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Silver About To Blast Off From Bearish Pattern?



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понедельник, 3 декабря 2018 г.

Silver December 4 Analysis



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Gold December 4 Analysis



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Will 2019 Bring a Free and Fair Gold & Silver Market?



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When Will Gold Finally Get Going?



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Silver To Gold Ratio Points To Oversized Profits Coming To Silver



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Gold Through 11 Is Hardly In Heaven



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Commodities Week Ahead: How Reliable Are Trade And Oil Cut Promises?



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Gold Speculators Cut Their Bullish Net Positions Back Down This Week



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воскресенье, 2 декабря 2018 г.

Silver December 3 Preview



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Gold December 3 Preview



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Silver Speculators Slightly Edged Their Bearish Net Positions Higher



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Copper Speculators Trimmed Their Bullish Bets This Week



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понедельник, 26 ноября 2018 г.

Silver Speculators Cut Back On Their Bearish Bets For 2nd Time In 3 Weeks



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Gold Speculators Raised Their Bullish Bets Back Into Bullish Territory



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Copper Speculators Lifted Their Bullish Net Positions To Highest Since July



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This Past Week In Precious Metals



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A Golden Renaissance, Report 25 Nov. 2018



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Gold At Decisive Juncture Before Moving Ahead



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Commodities Week Ahead: WTI Could Break $50 Support; Gold Awaits Fed Cues



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воскресенье, 25 ноября 2018 г.

Gold November 26 Analysis



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Silver November 26 Analysis



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Gold's Net Gain Of Nothing



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Silver Follow-Up



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пятница, 23 ноября 2018 г.

Gold: Decisive Zones For Mapping Indecisive Moves



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Gold Steady In Holiday-Thin Trade



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XAU/USD: Wave Analysis And Forecast For November 23-30, 2018



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Resurgent Trade War Fears Weigh On Metals



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Gold Bulls Eye July And October Highs



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вторник, 20 ноября 2018 г.

Did We Just Witness The Bottom In The Gold Market?



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Gold Technicals: Nov. 21, 2018



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Silver Technicals: Nov. 21, 2018



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Powell And Gold Between Inflation And Global Slowdown



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Gold's 6th Day



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Trigger Time For Gold Stocks



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Gold Bugs Hopes Hinge On These Head And Shoulders Patterns



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понедельник, 19 ноября 2018 г.

Metals Move In Unison For Massive Price Advance : Part I



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Gold Looks Ready To Glow Amid Falling Global Equity Markets



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Precious Metals Seasonal Trends



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This Past Week In Precious Metals



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Commodities Week Ahead: Holiday Reprieve For Oil, Brexit Boost For Gold?



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воскресенье, 18 ноября 2018 г.

Gold Gazing Into Space Despite Other Markets' Frenetic Pace



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Zinc: Outlook For The Week Of November 18th, 2018



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Nickel: Outlook For The Week Of November 18th, 2018



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Lead: Outlook For The Week Of November 18th, 2018



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Silver: Outlook For The Week Of November 18th, 2018



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Gold: Outlook For The Week Of November 18th, 2018



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Copper: Outlook For The Week Of November 18th, 2018



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суббота, 17 ноября 2018 г.

Gold Speculators Sharply Dropped Bets Back To Overall Bearish Position



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Silver Speculators Sharply Raised Bearish Bets This Week To 5-Week High



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Copper Speculators Reduced Bets This Week, Remain In Small Bullish Position



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Gold Vs. Key Competitors Signaling Sentiment Shift To Risk-Off



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пятница, 16 ноября 2018 г.

Gold Technicals: 11-16-18



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Mining Solutions Firm Receives Patent For Gold Extraction Process



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Is Gold Under Or Overpriced?



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XAU/USD: Wave Analysis And Forecast For November 16-23, 2018



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Gold Rebounds As USD Falls Back From Fresh 2018 Highs



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Oil Price Slide Potentially Bearish For Aluminum, Other Energy-Intensive Metals



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четверг, 15 ноября 2018 г.

Gold Bugs; Would Love This To Be A Double Top



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Gold, Oil, Commodities: Back To The Future?



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Here’s How We Discovered This Disruptive Gold Stock, Before It Went Public



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Gold: November 15 Analysis



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среда, 14 ноября 2018 г.

Here’s Why Warren Buffett Would Buy Precious Metals Again – If He Could



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Silver Technicals: Nov. 14



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Oil Spills Losses On 7% Drop



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Elliott Wave Analysis: Silver



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$1200 Could Be A Pivotal Area For Gold



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Gold Seeing Strong Resistance From 1206; Silver Key Support At 1397/90



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понедельник, 12 ноября 2018 г.

Gold: Heading Lower



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Gold Fall Continues, $1200 Next?



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Industrials Are Softening



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Gold Inflation



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Warning: Precious Metals Prices Are About To Collapse



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This Past Week In Precious Metals



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Commodities Week Ahead: Saudi Cuts May Halt Oil Slide; Gold Meltdown Next?



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воскресенье, 11 ноября 2018 г.

Paramount Gold: An Undervalued Advanced-Stage Junior Gold Stock



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Gold Post-Blue Ripple Trends To Technical Trickle



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Gold Amid Fear, While Bulls Look Not Exhausted



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5 Things That Precede Major Bottoms In Gold



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Gold Speculators Advanced Their Bullish Bets Higher This Week



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Silver Speculators Reduced Their Bearish Bets To Best Position In 13 Weeks



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четверг, 8 ноября 2018 г.

Gold Slide Continues After U.S Election, Fed Decision Next



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Gold Slides After Hitting Resistance Near 1237



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Gold Sell-Off Could Intensify After FOMC



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Gold Cliffhanger: Will The Metal Rally If There Is A Fed Hike Reprieve?



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вторник, 6 ноября 2018 г.

A Tale of 2 Metals: 1 More Valuable Than Gold, The Other Historically Undervalued



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This Morning In Metals: Rusal Reports 3Q Earnings Up 42%



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Gold Indicating More Upside - Elliott wave Analysis



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USD’s Weekly Breakout And The Golden Spring



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Silver November 5 Analysis



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Gold November 5 Analysis



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воскресенье, 4 ноября 2018 г.

Commodities Week Ahead: Oil Slumps On Iran Sanctions; Gold Shines On Risk-Off



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Gold Completes Another Nowhere Week, BUT



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Copper: Outlook For The Week Of November 4th, 2018



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Gold: Outlook For The Week Of November 4th, 2018



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Gold Speculators Bullish Bets Cooled Off This Week



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Silver Speculators Upped Their Bearish Bets This Week



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Copper Speculators Dropped Bullish Bets This Week After 2 Of Gains



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пятница, 2 ноября 2018 г.

AUD And Commodities Are Intertwined



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Gold Recovers As Dollar Rally Fizzles Out



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Gold Sets Up For A November Rally To Near $1300



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Gold Stocks Are Not Close To Bottom



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четверг, 1 ноября 2018 г.

XAU/USD, XAG/USD, WTI Analysis For 01.11.2018



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Silver Analysis For October 31



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Trump Is Not Thrilled. But What About Gold?



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This Copper Miner Is Highly Leveraged To The Price Of Copper



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3 Small-Caps On This Fund Manager's List



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Gold: October 31 Analysis



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For Copper To Rise, Traders Must Put Trade War, Economic Worries Aside



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воскресенье, 28 октября 2018 г.

Where’s The Capitulation In Precious Metals?



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Gold Upleg Fuel Abounds



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Gold Garners Glamour But Gains No Ground



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Silver Speculators Sharply Reduced Their Bearish Bets For 2nd Week



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Copper Speculators Lifted Their Bullish Net Positions For 2nd Week



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Gold Speculators Pushed Their Bullish Net Positions Higher This Week



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четверг, 25 октября 2018 г.

Stronger Dollar Is Bullish Catalyst For Gold



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Gold Technicals: 10_25_18



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India’s Gold Buying Season Not Looking As Shiny



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Change At Fed Or Mid-Term Congress Flip Would Be 2018's Biggest Gold Mover



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понедельник, 22 октября 2018 г.

Gold: Outlook For The Week Of October 22, 2018



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How The Midterm Elections Might Affect Gold And Silver



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This Past Week In Precious Metals



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Gold: Inside Bars Form Right Above $1205



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Global Lead, Zinc Demand Forecast To Rise In 2019



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Gold Flips To Net Long, Bears Close Out At A Record Pace



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Revisiting The Age-Old Relationship Between Interest Rates And Prices



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Commodities Week Ahead: Oil Set For A ‘Saudi Premium’? Gold Rally Seen



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Gold: To Go Up As The Third World Implodes



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воскресенье, 21 октября 2018 г.

Gold Remains Firm Whilst All The Rest Squirm



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Silver Speculators Cut Back On Their Bearish Bets Again This Week



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Gold Speculators Sharply Boosted Their Bets Into A New Bullish Position



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Copper Speculators Edged Their Bullish Net Positions Higher This Week



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пятница, 19 октября 2018 г.

Gold Retains Safe Bid As US Equities Retreat On Hawkish FOMC Minutes



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One Year After QT Started, Gold Still Unmoved



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Coffee Is Breaking Above Resistance And Moving Averages



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Can Gold Stocks Get Even Cheaper?



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понедельник, 15 октября 2018 г.

Rising Gold Prices Spark Heavy Options Trading



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Last Week In Precious Metals



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Silver Market Update



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Gold: Outlook: Week Of October 15, 2018



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You Can’t Eat Gold, Report Oct. 14, 2018



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Guest: Stephen Leeb Predicts 3-Digit Silver, 5 Digit Gold?



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Commodities Attempting Breakout Off 7-Year Support



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Gold Market Update - The 7-Year Bearmarket Phase Is Over



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Chart Of The Day: Gold Flashing Meaningful Buy Signal...At Last



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Commodities Week Ahead: Oil Rally In Doubt; Gold Could Target $1,250



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воскресенье, 14 октября 2018 г.

Gold Going Higher: Mining Stocks Are Historically Cheap



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Gold Grips As The S&P Dips



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Gold And Silver Daily Forecast - 15 October 2018



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Gold Speculators Continued To Boost Bets Deeper Into Bearish Territory



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Coffee And Sugar Break Out



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Gold Makes Bullish Breakout As Investors Fear Higher Interest Rates



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Silver Speculators Bearish Sentiment Rose For The 1st Time In 5 Weeks



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Copper Speculators Lowered Bullish Bets After 3 Weeks Of Gains



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Gold And Silver On The Rise, While Oil Spills



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Gold Bulls Look Ready To Retreat After Facing Tough Resistance



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пятница, 12 октября 2018 г.

Global Stocks Bounce Back, Gold Shines



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Gold: 10 Years After Lehman Brothers



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Gold Prices Soar On Safe Haven Demand As Equities Collapse



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XAU/USD: Wave Analysis And Forecast For October 12-19, 2018



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Gold And Silver Daily Forecast For October 12, 2018



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As The Markets Sell-Off, Precious Metals Rebound



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четверг, 11 октября 2018 г.

Lead Futures Break Below 147, Watch This Level



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XAUUSD, XAGUSD, WTI Analysis For October 11, 2018



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Gold And Silver Daily Forecast - 11 October 2018



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Lead Posts Toxic Returns Amid China’s Trade War, Slowing E-Bike Sales



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среда, 10 октября 2018 г.

Gold Price Action From Both Ends Of The Telescope



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Uranium Series Part 2: The Bull Case For Uranium In 2019 Is Very Strong



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Precious Metals Index Rebounds On Back Of Palladium



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Gold In Sideways Trend; Silver Holds 1420



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вторник, 9 октября 2018 г.

Strong Labor Market, Weak China, And Gold



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5 Charts Show Why Gold May Be Worth Owning Now



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Frank Holmes: Here’s Why Gold Stocks, Gold And Silver Are Great Buys Now



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A Bottom For Gold, But Not Yet THE Bottom



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Gold And Silver Daily Forecast - 09 October 2018



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Gold: Ready, Set, Go! Were You Really Ready?



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понедельник, 8 октября 2018 г.

$100 Oil Could Be Ahead, But Not For The Reason You Think



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Gold: Outlook For The Week Of October 7, 2018



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Gold: Battle Between Bearish Fundamentals And Bullish Sentiment Continues



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Commodities Week Ahead: Sanction Waivers Threaten Oil; USD To Hit Gold?



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воскресенье, 7 октября 2018 г.

Gold: The Unbudgeable Bovine



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In Gold We Trust: Incrementum Chart Book 2018



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Record Bearishness On Gold; Commercials Go Net Long For Fifth Week



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Canadian Gold Company Closes CA$11.6 Million Financing



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Gold Speculators Increase Bearish Bets For 3rd Week, Highest Since 2001



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Silver Speculators Reduced Their Bearish Bets For Fourth Week



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Copper Speculators Boosted Their Net Positions For 3rd Straight Week



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Gold Disappoints In Q3 2018



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пятница, 5 октября 2018 г.

Does Gold Speak Italian?



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How Commodities Will Perform In The Impending Massive Credit Crunch



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XAU/USD: Wave Analysis And Forecast For 5 - 12, 2018



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Will Silver Manage to Hit 15.00 Soon?



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четверг, 4 октября 2018 г.

Inverse H&S In The Miners? Really?



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SPX, Gold And Long-Term Yields



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Dr. Copper’s Critical Condition Can Attract More Bears



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Zinc: Exhaustion Is Evident Enough To Attract More Bears



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Chart Of The Day: Why Gold Is Once Again Headed Lower



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Copper’s Rebound: Just What The Doctor Ordered For The Economy?



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среда, 3 октября 2018 г.

Time For More Action?



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Gold, Oil And U.S. Stocks A In Focus



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Gold In For More Gains



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Silver Still Looks Steady



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Ratcheting Up The Gold-Friendly COT Tension



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Gold Gets Bold At The Lows



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Elliott Wave Analysis: Gold Pointing Towards 1230/1240 Area



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Gold: Unloved Or Secretly Desired? Mystery Spikes Since Fed Hike



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понедельник, 1 октября 2018 г.

Trump Trade Deals Mean Different Things To Commodity Traders, Economists



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Copper: Outlook For The Week Of September 30, 2018



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METALS MORNING VIEW 01/10: Mixed start to trading in low-volume market

In the precious metals this morning, spot gold prices were off by 0.3% at $1,189.00 per oz, palladium prices were off by 0.5%, while silver prices were little changed and platinum prices were up by 0.3%. This follows a general day of strength last Friday that saw gold, silver and platinum prices rise by an average of 1.3%, while palladium prices eased by 0.8%.

Silver was the star performer last Friday with prices putting in a strong performance – given the size of the gross short fund position there may well be further room for short-covering now that prices appear to have put in a base. The gold/silver ratio was recently at 1:81.4, having been out at 1:85 in recent weeks.

Three-month base metals prices on the London Metal Exchange were for the most part firmer, the exception being copper where prices were down by 0.4% at $6,233 per tonne. The rest were up between little changed for aluminium and 0.9% for lead.

With Chinese markets closed for the Golden Week holiday to mark the country’s National Day, volume has been light with 1,606 lots traded as at 07:12am London time.

This follows a day of general strength last Friday when the complex closed up by an average of 1.2%, led by a 3.3% rise in zinc prices.

In wider markets, spot Brent crude oil prices were higher by 0.41% and were recently quoted at $83.18 per barrel while the market gets nervous about whether other oil producers will be able to fill the gap caused by continuing US pressure on countries to rein in their imports of Iranian oil. The yield on US 10-year treasuries has firmed to 3.0715%, having been as high as 3.1% September 26. The German 10-year bund yield has firmed and was recently quoted at 0.4810%.

Asian equity markets were mixed on Monday with the Nikkei up by 0.52%, taking it to the highest since 1991, while the ASX 200 is down 0.57% and the Kospi is off 0.18%. This follows a mixed performance in western markets on Friday; in the United States, the Dow Jones closed up by 0.07% at 26,458.31, while in Europe, the Euro Stoxx 50 was down by 1.47% at 3,399.20 – the latter dragged down by concerns over Italy’s budget plans.

The dollar index continues to react favorably to the US rate rise with a move up to 95.25 and has done a good job in negating the weakness seen over the past six weeks or so.

With the dollar stronger and Europe facing issues on Brexit and Italy’s budget, the euro (1.1586) and sterling (1.3030) are weaker, as are the yen (113.95) and the Australian dollar (0.7207) is consolidating.

The emerging currencies we follow are for the most part consolidating; the exception is the Mexican peso that is stronger on the back of the new trilateral trade deal between the US, Mexico and Canada.

The economic agenda is extremely busy on Monday, with Tankan and purchasing managers’ index (PMI) data already out in Japan coming in weaker than previous readings. Later there is manufacturing PMI data out across Europe and the US, as well as data on German retail sales, Italian unemployment, UK lending, US construction spending and total vehicle sales. There is also a Eurogroup meeting and US Federal Open Market Committee member Raphael Bostic is speaking.

The base metals prices are looking quite diverse; zinc is the latest to break higher, while copper and nickel consolidate after their upside breaks on September 21. Lead seems to be mustering the energy to follow zinc, while aluminium and tin remain rangebound. With China on holiday this week, lower liquidity is likely to lead to choppy prices, but the trade deal between the US, Mexico and Canada is a positive development and that may instill some hope that other deals will follow.

London Metal Exchange, base metals prices, precious metals prices

economic data

The post METALS MORNING VIEW 01/10: Mixed start to trading in low-volume market appeared first on The Bullion Desk.



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Silver Bulls Look Too Eager To Move Upward



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Zinc: Outlook For The Week Of September 30, 2018



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Zinc On The Brink Of New Beginnings



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Commodities Week Ahead: Brent Poised To Close In On $85; Gold Under New Pressure



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пятница, 28 сентября 2018 г.

Silver Breaks Out, Haven’t Seen This In A While



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Global Central Bank Buying Puts A Floor Under The Price Of Gold



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METALS MORNING VIEW 28/09: Some strength emerges in the metals after Thursday’s weakness

Three-month base metals prices on the London Metal Exchange were up across the board with gains averaging 0.4% on the morning of Friday September 28. But this follows a general down day on Thursday, when the complex closed down by an average of 1%.

This morning’s gains are ranged from little changed for aluminium and tin to up by 0.7% for nickel, with copper up by 0.4% at $6,205 per tonne.

Volume has been average with 5,686 lots traded as at 07:13am London time.

In the precious metals, spot gold prices were off by 0.1% at $1,182.95 per oz, while the more industrial precious metals were up between 0.2% for silver and platinum prices and 0.4% for palladium prices. Thursday’s action was polarized with gold, silver and platinum down by an average of 1.1%, while palladium bucked the trend by rising 1.5%.

In China, the base metals prices were divergent with the November zinc, November lead and January tin contracts up by an average of 0.9%, while the November contracts for copper, aluminium and nickel were down by 0.4%, 0.9% and 1% respectively. The November copper contract was at 50,170 yuan ($) per tonne.

Spot copper prices in Changjiang were down by 0.5% at 50,140-50,380 yuan per tonne and the LME/Shanghai copper arbitrage ratio is firmer at 8.09, after 8.07 on Thursday.

In other metals in China, the January iron ore contract on the Dalian Commodity Exchange was down by 1% at 494.50 yuan per tonne. On the SHFE, the January steel rebar contract was down by 2.6%, while the December gold and silver contracts were down by 0.8% and 0.7% respectively.

In wider markets, spot Brent crude oil prices were higher by 0.24% and were recently quoted at $81.48 per barrel. The yield on US 10-year treasuries has firmed to 3.0450%, having been as high as 3.1% on Wednesday. The German 10-year bund yield has weakened and was recently quoted at 0.4800%. The strength in the latter suggests safe-haven buying in Europe after Italy’s government agreed a higher budget, which will put it on collision course with Europe.

Asian equity markets were for the most part stronger on Friday: Nikkei (+1.33%), Kospi (-0.52%), the Hang Seng (+0.10%), the CSI 300 (+0.52%) and ASX200 (+0.43%). This follows a stronger performance in western markets on Thursday; in the United States, the Dow Jones closed up by 0.21% at 26,439.93, while in Europe, the Euro Stoxx 50 was up by 0.48% at 3,449.79.

The dollar index continues to react favorably to the US rate rise with a move up to 95.08 and has done a good job in negating the weakness seen over the past six weeks or so.

With the dollar stronger, the other major currencies we follow are weaker, especially the euro (1.1625) while Italy once again rocks the fiscal boat, sterling (1.3075), the Australian dollar (0.7215) and the yen has dropped through its 113.13-113.16 double bottom and was recently quoted at 113.38.

The yuan has also weakened and was recently quoted at 6.8845, while the emerging market currencies we follow are quite mixed and ranged between consolidating or strengthening. This suggests the latest dollar strength is more about other major currency market weakness and less about fresh emerging currency weakness.

The economic agenda is extremely busy on Friday, with data already out in Japan showing a strong improvement across the board – see table below for details. Data out later in Europe includes French consumer spending, consumer price index (CPI) data from France, Spain, Italy and the European Union, German unemployment and the United Kingdom’s current account, gross domestic product and business investment. US data includes personal income, spending and PCE prices, Chicago purchasing managers’ index (PMI) and revised University of Michigan consumer sentiment and inflation expectations. In addition, UK Monetary Policy Committee member David Ramsden is speaking.

The base metals prices are looking quite diverse, but rally attempts continue to struggle and higher prices are still attracting selling. Conversely, support seems to be in place – although in some metals it is looking more vulnerable than in others. The market action continues to be at odds with the LME data that is showing tighter spreads, some backwardations and across the board steady stock falls, with some stocks getting significantly low.

Overall, in this climate of uncertainty, consumers and would-be buyers may not feel in any hurry to chase the market higher – shorts on the other hand may be more nervous for the reasons mentioned above. As such, we expect choppy trading, especially with China on holiday next week.

Gold prices had been stuck sideways, but that changed on Thursday after the dollar’s rebound sent prices lower again. For once, silver prices are holding up slightly better than gold, as seen by the dip in the gold/silver ratio, while platinum is following silver’s lead. Palladium stands out alone, while its robust performance highlights its strong fundamentals.

London Metal Exchange, base metals prices, precious metals prices

Shanghai Futures Exchange, base metals prices, precious metals prices

economic data

The post METALS MORNING VIEW 28/09: Some strength emerges in the metals after Thursday’s weakness appeared first on The Bullion Desk.



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Gold Review $GLD



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Fed Tightening Cycles: Broader View And Implications For Gold



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Gold Resumes Bearish Trend



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Fed-Fever Ends, Metal Bears Ready To Move Towards Base



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четверг, 27 сентября 2018 г.

Precious Metals: 09_27_18



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Fed Turns Hawkish: Is The Gold Case Lost?



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METALS MORNING VIEW 27/09: Metals prices mixed after initial weakness

Three-month base metals prices on the London Metal Exchange were for the most part weaker during early trading on Thursday September 28, but some strength emerged after trading got underway in Europe.

Tin was bucking the trend with 0.3% gain, while the rest of the metals were down by between 0.4% for aluminium and lead and 0.9% for zinc prices, with copper off by 0.8% at $6,236 per tonne.

Total volume across the complex has been average with 9,667 lots traded as at 08.01am London time.

With the US Federal Open Market Committee (FOMC) meeting and a 25 basis-point interest rate rise out of the way, the base metals markets may have a few days to reflect their fundamentals before trading becomes thinner as China goes on holiday next week, which will be followed by LME Week.

The precious metals were firmer, with prices up by an average of 0.4%. Given the US interest rate rise you would expect prices to be weaker, but with spot gold prices at $1,195 per oz, it appears the market had already fully priced in the rate increase.

In China, the base metals prices were mirroring those on the LME, with January tin prices up by 1%, while the rest were weaker by an average of 1.1%. The most actively traded November copper contract was down by 0.9% at 50,130 yuan ($7,290) per tonne.

Spot copper prices in Changjiang were down by 0.3% at 50,560-50,620 yuan per tonne and the LME/Shanghai copper arbitrage ratio is firmer at 8.07.

In other metals in China, the January iron ore contract on the Dalian Commodity Exchange was down by 0.4% at 502 yuan per tonne. On the SHFE, the January steel rebar contract was down by 1%, while the December gold and silver contracts were down by 0.4% and 0.2% respectively.

In wider markets, spot Brent crude oil prices were higher by 0.66% and were recently quoted at $82.20 per barrel. The yield on US 10-year treasuries has eased to 3.0339%, having been as high as 3.1% on Wednesday. The German 10-year bund yield has strengthened and was recently quoted at 0.5327%.

Asian equity markets were mainly weaker on Thursday: Nikkei (-0.99%), Kospi (+0.7%), the Hang Seng (-0.35%), the CSI 300 (-0.40%) and ASX200 (-0.18%). This follows a weaker performance in western markets on Wednesday; in the United States, the Dow Jones closed down by 0.40% at 26,385.28, while in Europe, the Euro Stoxx 50 was down by 0.51% at 3,415.56.

The dollar index has reacted favorably to the US rate rise with a move up to 94.58, but with the interest rate rise expected, it will be interesting to see if it holds on to its gains, especially because US President Donald Trump wants a weaker dollar and the trend since mid-August has been downward.

With the dollar stronger, most of the other major currencies we follow are weaker: the Australian dollar (0.7225), sterling (1.3113) and the euro (1.1699), although the yen is rebounding off a double bottom and was recently quoted at 112.58 – the double low being at 113.13-113.16.

The yuan has also weakened and was recently quoted at 6.8770, while the emerging market currencies we follow are quite mixed; the rupiah and ringgit were weaker, while the rest were either consolidating or showing some strength.

On the economic agenda, data already out in Germany showed GfK consumer climate edge up to 10.6 from a previous reading of 10.5. Later, there is European data that includes Germany’s consumer price index (CPI), the European Union’s M3 money supply, EU private loans and a European Central Bank (ECB) economic bulletin. Italy also has a 10-year bond auction. US releases include durable goods orders, final gross domestic product (GDP), GDP price index, goods trade balance, wholesale inventories, initial jobless claims, pending home sales and natural gas storage numbers. In addition, ECB president Mario Draghi and US Federal Reserve chair Jerome Powell are speaking.

The base metals are looking quite diverse; zinc is leading on the upside, but the metal’s prices need to clear resistance at $2,564 per tonne to suggest a break higher; copper and nickel prices are consolidating last week’s gains, but are holding up reasonably well; tin and aluminium are trading sideways, while lead is weaker. Key now will be whether there will be further short-covering ahead of the week long holiday in China.

Overall, in this climate of uncertainty, consumers and would-be buyers may not feel in any hurry to chase the market higher – shorts on the other hand may be more nervous, especially because spreads are tighter. As such, we expect choppy trading to continue.

Gold prices are stuck in a sideways trading. Given escalating trade tensions, rising oil prices and some record breaking US equity markets of late, it may be that safe-havens will be needed again before too long and at these price levels gold may look a cheaper safe-haven. Palladium led the more industrial precious metals higher last week, but while it continues to strengthen, platinum and silver are now consolidating their gains.

London Metal Exchange, base metals prices, precious metals prices

Shanghai Futures Exchange, base metals prices, precious metals prices

economic data

The post METALS MORNING VIEW 27/09: Metals prices mixed after initial weakness appeared first on The Bullion Desk.



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Precious Metals Bulls May Get Their Silver Bullet After All



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среда, 26 сентября 2018 г.

Gold Capped By $1,214



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Long-Term Evidence: Gold And Inflation



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Silver's Final Sign



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Gold:Silver Ratio Back At Extremes



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Gold: Downside With 1192 Support



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