|Day's Range||16.025 - 16.045|
Federal Reserve policymakers last month noted a number of increased threats to the U.S. economy, ranging from adverse effects from the government shutdown to rising trade tensions, and opted to emphasize that they would be "patient" in raising interest rates. DALLAS (AP) -- Southwest Airlines is lashing out at the union representing its mechanics, suggesting that they are purposely grounding planes to gain leverage in new contract negotiations. Southwest had canceled more than 400 flights — 10 percent of its schedule — by midmorning Wednesday.
The $11 billion VanEck Vectors Gold Miners ETF, ticker GDX, saw trading volume spike to its highest in two months Tuesday. GDX is the largest materials ETF and tracks corporations that are primarily involved in mining gold and silver. The precious metal offers a potential hedge against global political uncertainties like the U.S.-China trade war.
The S&P 500 finds itself just below the 2800 level, an area that should cause a lot of resistance. Because of this, I believe that the meeting minutes later during the day on Wednesday will dictate where we go next, but quite frankly unless it explicitly says that the Federal Reserve is going to stop tapering its balance sheet, this could be the top.
Silver markets had a good day on Wednesday, as we have broken above the $16 level again. This is a market that has been rallying significantly, and therefore it makes sense that it’s only a matter time before we continue to go higher.
Precious metals continue to trade positive as weak dollar combined with healthy demand for safe haven assets underpin demand in market and influence a positive price action.
The most significant event today is the release of the average earnings index for Great Britain at 11:30 MT time. Also, follow the Brexit updates. Watch GBP/USD. Gold entered the overbought zone. It may signal a potential reversal. Keep an eye on XAU/USD.
Kinross' (KGC) Q4 results gain from Tasiast Phase One expansion. The company attains cost, production and capital guidance for 2018.
Israeli director Nadav Lapid's “Synonyms," about a young Israeli man in Paris who has turned his back on his native country, won the Golden Bear at this year’s Berlinale on Saturday. The Silver Bear Grand Jury Prize went to François Ozon's French drama "By the Grace of God,” a fact-based account of the Catholic Church […]
“We wanted to create a combination of the Chelsea Hotel, the Brill Building and CBGBs,” says producer Dave Trumfio describing Gold-Diggers, an East Hollywood complex that includes nine state-of-the-art recording studios, a soundstage and an 11-room boutique hotel above a full liquor bar and lounge. The Santa Monica Blvd. address served as a strip club […]
Crude oil markets rallied significantly during the trading session on Friday to send this market above what has been massive resistance. Because of this, I think that the market is poised to go higher as we have been flirting with that level for quite some time.
Natural gas markets continue to grind during the week, going back and forth between a couple of levels. We are at extraordinarily low pricing at this point though, so it’s very likely that we need to see some type of bounce to start selling. As far as buying is concerned, I would be a bit hesitant to do so, because of the fact that there is so much in the way of supply.
Silver markets gapped higher on Friday in the futures pits as we have seen a significant amount of support show up on Thursday and bouncing off of the uptrend line. Beyond that, there are couple of moving averages in a round number that you should be paying attention to.
Bad data from the US helped the precious metals to climb higher and on both: Gold and Silver, we are very close to see major long-term buy signals.
The script for WTI and Brent crude prices is expected to remain the same on Friday. OPEC-led production cuts and Venezuelan sanctions are expected to underpin prices while concerns over rising U.S. production and slowing demand will limit gains.
Silver markets gapped a bit lower to kick off the day on Thursday, rallied a bit to test that gap, and then fell again. We are currently testing the $15.50 level, which of course is significant.
Gold is regarded as immune to changes in economic activity and hence steady fund flow from investors who wish to avoid loss of funds owing to geopolitical events keeps the price steady above $1300 handle.
The Atlanta-based exchange plans a 3-millisecond trading delay, or speed bump, for its gold and silver futures contracts, according to a regulatory filing. Michael Lewis’s 2014 book, “Flash Boys,” popularized the idea of using speed bumps to curb the light-speed pace of modern financial markets and prevent alleged abuses of so-called high-frequency traders. Lewis’s protagonists, the founders of IEX Group Inc., introduced a delay on their stock exchange in 2016, and a tiny equities market ICE owns, NYSE American, also has one.
The British pound pulled back a bit after rallying quite significantly during the day on Wednesday. By doing so, the market looks as if it isn’t quite ready to go higher, but I also recognize that there is a massive amount of support underneath.
Based on the early price action, the direction of the March E-mini S&P 500 Index the rest of the session is likely to be determined by trader reaction to the former top at 2737.75.
The gold prices pulled back initially during Tuesday’s session but got enough support underneath to continue rally higher. The $1325 level higher would continue to be extremely resistive, but pullbacks will continue to be a nice buying opportunity. If the gold breaks the support at $1300 level, then probably it will go down towards the $1275 level. …Read MoreSilver