Precious Metals

S&P Set To Open At All Time High, Boosted By Rising Crude On More "OPEC Deal Optimism"

European and Asian stocks rose after the early scare from the latest Fukushima quake dissipated, with the global risk on mood spurred by another jump in crude, which was up 1% in early trading, with the commodity complex now enjoying its biggest three-day rally since May, after Nigeria signaled optimism that OPEC will agree a supply-cut deal next week in Vienna. S&P futures are up 0.3%, with the cash index set to open at new record highs.

Is Silver Set To Surge Off Significant Support?

The big story in financial markets this week was the breakout to 13-year highs by the U.S. Dollar, and if there has been any asset class most effected by the movement of the Dollar, it is probably precious metals. While all eyes remain on gold and the psychologically important $1200 levels, it is silver prices that are testing a confluence of potential support levels.

Speculators Are Finally Bailing Out Of Gold... And That's A Good Thing

All this talk of massive new infrastructure spending financed with a tsunami of freshly-minted currency should be lighting a fire under gold. That it hasn’t is a testament to how out-of-whack the precious metals market had gotten during the first six months of this year.

Sprott Money's picture

Watching The Yuan

So, could a rally be coming on the days ahead? Perhaps you should just keep your eyes focused upon the yuan. It may once again be foreshadowing what is to come next.

Gold Slumps To 5-Month Lows As Dollar Index Tops 100, Yuan Crashes To New Record Low

Gold prices are down almost 10% from Trump victory highs, testing down towards $1200 once again and pressing 5-month (pre-Brexit fear) lows. At the same time the USD Index has spiked back above 100 - the highest in over a year - as Offshore Yuan crashes to over 6.85/$, the weakest since inception... Simply put turmoil continues...

Commodity Carnage: Copper Turns Red, Oil Plunges Near $42 Handle

Wednesday saw a bloodbath in global developed bonds. Yesterday saw Emerging Market currencies and bonds collapse. Today, it is the turn of the commodity complex as Copper erases a 7% gain intrday and crashes red, WTI Crude tumbles near a $42 handle (Trump lows) and precious metals are clubbed like baby seals...