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The price of shinning metal is trading lower as investors continue to be more risk-takers in comparison to the previous weeks, when we saw the price of shinning metal rise through the roof. The metal is on track to post its first weekly loss in 5 weeks, but it may be a little premature to say this as we are only mid-week and some important economic data is about to hit the tape.
The dollar index (DXY00 ) Thursday fell to a 1-1/2 week low and finished down by -0.28%. Stagflation concerns weighed on the dollar Thursday after revised US Q1 GDP showed slower-than-expected economic growth, along with persistent price pressures. The dollar initially moved higher Thursday after bond yields jumped when Thursday’s...
The dollar index (DXY00 ) today rebounded from a 1-1/2 week low and is slightly higher. The dollar saw support today after bond yields jumped when today’s US economic news showed signs of persistent inflation and labor market strength, hawkish factors for Fed policy. Also, today’s slump in stocks has...
I discussed the recent action in the wheat, soybean, and corn markets on AgWeb's Market's Now with Michelle Rook today. We also talked about the cattle markets and gold.
The dollar index (DXY00 ) on Wednesday rose +0.16%. The dollar on Wednesday recovered from a 1-1/2 week low and moved moderately higher. Strength in T-note yields Wednesday boosted the dollar. Also, weakness in the yen was positive for the dollar as the yen Wednesday fell to a 33-year low...
The dollar index (DXY00 ) today recovered from an early 1-1/2 week low and is up +0.12%. The dollar is seeing support from higher T-note yields but is being undercut by reduced liquidity demand due to today’s rally in stocks. The yen today fell to a 33-year low against the...
The dollar index (DXY00 ) Tuesday fell to a 1-week low and finished down by -0.37%. The dollar was under pressure from strength in the euro after Tuesday’s news showed the Eurozone Apr S&P composite PMI expanded by the most in 11 months. Strength in stocks Tuesday also curbed liquidity...
Silver approached a test of the $30 per ounce level, the highest price since February 2021. If silver can eventually power through $30, it could be on a path to challenge the 2011 and 1980 highs.
Platinum (PL) looks to have formed a bottom and the metal has started to rally higher in the next bullish cycle. The metal still needs to break above 1348.2 to confirm that the next leg higher has started. Below we updated the Monthly and Daily Elliott Wave chart for the metal.
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Metals & Mining ETF (XME) . The rally from 3.14.2024 low at $55.37 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again.
Gold slides once again today, proving that yesterday’s $67 slide was not accidental.
The dollar index (DXY00 ) this morning is down by -0.35% and posted a 1-week low. The dollar is under pressure as the euro strengthened after today’s news that the Eurozone Apr S&P composite PMI expanded by the most in 11 months. Strength in stocks today has also curbed liquidity...
Bill Baruch joined the CNBC Halftime Report Monday to detail adding to two names.
With the latest industry forecast calling for a silver supply crunch on the horizon, these two silver mining stocks are worth investing in.
The dollar index (DXY00 ) on Monday fell slightly by -0.04%. The dollar on Monday gave up an early advance and moved lower after a rally in stocks curbed liquidity demand for the dollar. The dollar initially posted moderate gains on Monday due to higher T-note yields. Also, today’s US...
Bitcoin, gold and the S&P 500 all experienced record highs in the first quarter of 2024, as futures trading surged. The strength of the U.S. dollar will depend on the Fed’s policy decisions, though it continues to be seen as a safeguard against volatility in times of uncertainty.
The dollar index (DXY00 ) this morning is up by +0.13%. Higher T-note yields today are giving the dollar a boost. Also, today’s US Mar Chicago Fed national activity index was stronger than expected and boosted the dollar. Gains in the dollar are limited as strength in stocks today curbs...
Teck Resources is one of the largest mining companies globally, and should deliver outsized returns to shareholders in the upcoming decade.
The dollar index (DXY00 ) on Friday rose by +0.01%. The dollar on Friday gave up most of an overnight advance and finished little changed. The dollar spiked higher in overnight trade after US officials said Israel launched a retaliatory air strike against Iran in response to Iran’s rocket and...
Gerdau is an undervalued stock you can buy right now, as it trades at a compelling valuation and a significant discount to analyst estimates.
Gold is the world’s oldest currency. Historically, rising interest rates and a strong U.S. dollar have been bearish for gold prices. Meanwhile, the traditional trading patterns have not impacted gold over the past weeks as rates have increased, the dollar index rallied, and gold has continued to make higher lows and higher highs in record territory.
As a follow-up to a piece I posted 6 months ago, I again discuss the role of gold as a safe have market.
The S&P 500 Index ($SPX ) (SPY ) this morning is down -0.25%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.41%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.92%. US stock indexes this morning are mixed, with the S&P 500 falling to...
The dollar index (DXY00 ) this morning is down by -0.17%. The dollar gave up an overnight rally and turned moderately lower. The dollar spiked higher in overnight trade after US officials said Israel launched a retaliatory air strike against Iran in response to Iran’s rocket and drone attack on...
A combination of strong fundamentals and Barchart’s proprietary analytics puts the spotlight on AEM stock.
