Analysis Topic: Commodity Markets - Metals, Softs & Oils
The analysis published under this topic are as follows.
Friday, September 14, 2007
HUI Gold Bugs Index Upleg Cycles / Commodities / Gold & Silver Stocks
By: Zeal_LLC
Remember the brutal first hour of trading on August 16th? That was the fateful day when a mini-panic ripped through gold stocks like a tornado. The HUI plunged 10% in the first hour of trading and some high-potential smaller gold stocks plummeted over 25%! For leveraged PM-stock speculators, it felt like Armageddon.
Sentiment that morning was about as bad as it has ever been in this precious-metals bull. Gold and silver miners were loathed and calls for much deeper lows abounded. Yet just 15 trading days later, gold powered above $700 for the first time since May 2006. This gold breakout drove a strong PM-stock surge and the HUI quickly shot above its pre-August-mini-panic levels.
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Friday, September 14, 2007
Gold Continues to Consolidate After Recent Rally / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $706.00/706.50 an ounce as of 1215 GMT after yesterday's 0.5% price decrease.
As anticipated, gold has continued to consolidate after its recent price surge. None of the fundamental factors which led to gold's recent price surge have gone away. Oil and the dollar remain near record highs and lows respectively. The U.S. dollar is trading at 79.61 at 1200 GMT and has clearly broken down below massive long term support at 80. It is now in uncharted territory technically and with the FOMC meeting next Tuesday expected to result in a drop of at least 25 basis points, the USD looks likely to remain under serious selling pressure.
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Thursday, September 13, 2007
Free Access to Premium Elliott Wave Commodity Forecasting Resources / Commodities / Elliott Wave Theory
By: Sarah_Jones
We have great news from our friends at Elliott Wave International (EWI) … a FreeWeek of EWI's Commodity Forecasts is live until Wednesday, September 19 at noon EDT!
If you've participated in one of their FreeWeeks before, you know what to expect. If this is your first time, you're in for quite a treat!
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Thursday, September 13, 2007
Gold Bull Market Exploding Higher! / Commodities / Gold & Silver
By: Money_and_Markets
Larry Edelson writes: The spot price of gold has just hit $716. In the futures market, the December contract reached as high as $723.50.
But no matter how you measure it, the precious yellow metal — the ultimate form of money — has blasted through its recent highs … catapulted above the $700 barrier … and is now clearing a path that could take it virtually straight to $1,000 an ounce.
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Thursday, September 13, 2007
Commodity Markets Update - Gold Takes a Breather From Recent Price Surge / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $706.00/706.50 an ounce as of 1215 GMT after yesterday's 1.5% price increase.
Gold has been taking a well earned breather after its recent price surge. However, given that the dollar remains under serious pressure and oil remains near all time record highs and neither are expected to reverse these trends in any significant way, gold is well supported. With the record oil price, surging wheat price and an increasing realisation that there is a long term structural trend toward higher soft commodity and food prices while economic growth is stagnating, it is obvious that a new form of stagflation is rearing it's ugly head.
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Thursday, September 13, 2007
Gold Warning - Gold's Credit Crunch Dilemma / Commodities / Gold & Silver
By: Brian_Bloom
The following two charts (both 3% X 3 box reversal charts speak louder than words.
The first chart is that of the $XAU. It has given a low pole reversal (bullish) signal, but is still, technically, in a bear trend.
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Thursday, September 13, 2007
Gold Dips to $705 but "Only Needs One Buyer to Start the Race Higher" / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES slipped to a two-day low in London on Thursday morning, dropping more than $7 per ounce to bounce off $705.20.
"We've seen quite an astonishing move up," said Frederic Panizzutti of the Swiss refinery MKS Finance to Bloomberg earlier. He believes it's led to "several waves" of selling as investors take quick gains.
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Wednesday, September 12, 2007
Macro Musings: Crude Oil and Gold Commodity Milestones / Commodities / Gold & Silver
By: Justice_Litle
I have the ability to imagine configurations of the world different from today, and really believe it can happen.
-- legendary hedge fund manager Bruce Kovner
TODAY WE MUSE on gold, but the discussion begins with oil. (With crude hitting nominal contract highs and the yellow metal besting 16-month highs, it seems appropriate to combine the two.)
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Wednesday, September 12, 2007
Gold Is Breaking Out as It Disconnects from the Stock Markets / Commodities / Gold & Silver
By: Jim_Willie_CB
Four charts speak volumes, with only a few words to serve as captions. Ever since the lousy August Jobs Report came out (doctored to look better than the real situation), the gold picture has experienced a sea change. Gold is breaking out, not yet to new highs, but that is next. The gold price is not moving reasons offered in explanations. Anchors and interviewed guests fall short of adequate assessment. At the same time, denials persist on the huge damage to be doled out by the USDollar decline, as another round of systemic cost inflation will ensue.
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Wednesday, September 12, 2007
Gold Overbought - FOMC Interest Rate Cut Meeting Could Result in Short-term Selling / Commodities / Gold & Silver
By: Ned_W_Schmidt
U.S. trade deficit on goods and services for last month was reported as $59 billion. For another month $59+ billion of green paper was exported by the U.S. During same period central banks reduced their holdings of U.S. debt by $30+ billion. Those values, when taken together, mean that around the world $90 billion of green paper was sold, or not not bought, by central banks. Little wonder U.S. dollar has rediscovered downward path and Gold has risen. Just as business media was proclaiming Gold an unwise investment, the price rose to above US$700. Any interest rate cut in the U.S. will only add encouragement to dollar's demise, and initiate next wave in Gold Super Cycle.Read full article... Read full article...
Wednesday, September 12, 2007
Grain Bull Market - The Cartel in Your Cupboard / Commodities / Agricultural Commodities
By: Money_and_Markets
Sean Brodrick writes :Russia has asked Australia (among others) to join a group of grain-exporting nations that would seek to regulate production, much as OPEC regulates the production of crude oil.
An OPEC of grain sounds a bit odd. Visions of sheiks riding camels through Kansas wheat fields immediately come to mind. But Russia knows there is a lot of money to be made from grains. Fortunately, if you make the right moves, you also stand to reap profits as high as an elephant's eye.
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Wednesday, September 12, 2007
Gold Hits New 16-Month High vs. Dollars and Sterling ; London Press Fails to Notice / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES touched a fresh 16-month high in London early on Wednesday, but slipped $3 per ounce to trade at $711.29 as the US open drew near.
The AM Fix came in at $711.75 per ounce, the highest London Fix since 17th May 2006 .
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Wednesday, September 12, 2007
Commodity Markets Update - Gold Remains Undervalued Despite Current Rally / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $705.20/705.70 an ounce as of 1215 GMT after yesterday's 1.5% price increase.
It has traded sideways in Asia and Europe but remains close to new 16 month highs and is not far away from 26 year highs at $730. We believe that given the speed of the recent price surge there may be some back filling and consolidation but that the 26 year high will be challenged and surpassed in the coming days and weeks. The wise old Wall Street saying to always have 10% of one's wealth in gold and hope it doesn't work becomes more appropriate by the day.
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Wednesday, September 12, 2007
Where Next for Gold? / Commodities / Gold & Silver
By: David_Vaughn
Look at that gold price? What happened to 650 an ounce? I believe we are witnessing a new floor price for gold being established.
And what happens when that ole' spring is pushed too hard?
Well, gold has finally closed above 700 and I believe this to be more than a short term rally. Now 700 has become the floor for gold where as before 700 was the ceiling. What does this mean? Before, gold was attempting to climb above an imaginary Maginot line of 700. Now 700 has become the floor and imaginary base from which gold will call home.
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Wednesday, September 12, 2007
Commodity Markets Trend - History Should Serve As A Guide To This Wild Ride / Commodities / Gold & Silver
By: Emanuel_Balarie
Even though I have not posted commentary in the last few months, I have been keenly aware of the wild ride that has occurred in the commodity markets over the last couple of months. The major sell-offs, that have occurred in nearly every sector, have left many commodity bulls around the world asking the following question: Is this bull market in commodities finally over?Read full article... Read full article...
Tuesday, September 11, 2007
Taking Profits in Gold Long Position / Commodities / Gold & Silver Stocks
By: Mike_Paulenoff
I am looking to exit part of my long position (model portfolio) in the streetTRACKS Gold Shares (NYSE: GLD) at 70.80 today for three reasons:Read full article... Read full article...
Tuesday, September 11, 2007
The Wallstreet Big Boys Are Not Interested in Junior Miners / Commodities / Gold & Silver Stocks
By: Captain_Hook
And Now For Something Completely Different: What good would it do you if Michael Bloomberg became the next President of the United States ? Answer: In spite of all the platform promises he would undoubtedly make, no good in all likelihood, just like with Bush if you were not a defense contractor or oil baron. That is to say, like Bush, he would work on ways to reward his buddies for supporting his campaign. Good or bad depending on who you are – that's how the game is played. As mentioned here many times now, and highlighted in our piece The Bourgeoisie Of America , what should begin to become more plain to everybody very soon is that guys like Bloomberg, in the top three-percent for sure, are only worried about lining their own pockets – and it's to hell with everyone else. And on a larger scale, and increasingly, official policy is being run on this basis, where again, such actions are not about to help you and me in anyway past putting off the inevitable – that being through a painful process bring us back to a system for the people as opposed to the one we have – designed to rape, pillage, and plunder.Read full article... Read full article...
Tuesday, September 11, 2007
Commodity Markets Update - Gold Trades Sideways Near 16 Month Highs / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $705.20/705.70 an ounce as of 1215 GMT. It has traded sideways in Asia and Europe but remains close to 16 month highs. Yesterday's close above $700 was only the 7th daily close above $700 in 26 years.
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Tuesday, September 11, 2007
Gold Moves Sideways for Non-US Investors; "Safe Haven the Way to Go" / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES traded sideways in Asia overnight, moving in a $2 range before rising steadily in London to break $705 per ounce as the New York open drew near.
European stock markets rallied meantime, with London 's top 100 share index adding 1.5% during the morning session to reach break-even from this time last month. Both the FTSE Eurofirst 300 index and the Dow on Wall Street remain 7% off their top of mid-July.
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Monday, September 10, 2007
Significant Near-Term Bottom for Natural Gas / Commodities / Natural Gas
By: Mike_Paulenoff
This afternoon's spike to the upside in the U.S. Natural Gas Fund (AMEX: UNG) has imbued the near-term chart structure with the look of a potentially significant near-term bottom (37.00-34.00). A sustained upside hurdle of last Thurday's rally peak at 37.40 should triggered upside follow-through to the 40.00-40.40 area initially, and possibly to 42.00 thereafter as the price structure fulfills its "destiny" off of the three-week base pattern.Read full article... Read full article...