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Gold, Silver, Oil, Wheat Surge After Malaysian Airliner Shot Down Over Ukraine
Gold, silver, oil and wheat surged today after confirmaton that a Malaysian passenger airliner was shot down over the Ukraine. The tragedy is set to be used by opposing sides as a stick to beat each other with and inflame an already very tense geopolitical situation.
Finviz
Gold surged 1.85% and is on track for its best day in almost a month. Stock markets around the world extended losses while safe-haven assets rose following the news.
U.S. stocks fell and risk aversion returned to markets on speculation that the incident could lead to an escalation in millitary confrontation in the Ukraine and tensions with Russia. The VIX (VIX), which measures volatility and is sometimes dubbed the "Fear Gauge", shot up as much as 17%.
Gold was already higher for a second-day prior to news of the tragedy. Geopolitical tensions with Russia and in the Middle East are leading to haven demand and there are bargain hunters buying gold bars and coins at the levels.
Finviz
Gold's 14-day relative strength index (RSI) is back to 49 this morning from its low for the week of 42.8 on Tuesday. Prices are holding above their 100-day simple moving average at $1,303/oz. Futures trading volume was 23% below the average for the past 100 days for this time of day.
Palladium prices have hit their highest since February 2001 this morning at $882.20/oz. Russia, the world’s largest producer of palladium had another round of U.S. sanctions imposed on them yesterday, over what Washington says is Moscow's failure to curb violence in Ukraine.
Russia’s palladium exports to Switzerland reached an 11 month high in April, Swiss Federal Customs Administration data show. Shipments then fell 29% in May but were still at the second-highest level in a year. Russia has reduced sales from government stockpiles but typically exports palladium to Switzerland for storage and refining.
Palladium has surged 23% so far this year as a South African mine strike cut output and there are concerns about Russian supplies.
Gold imports by India jumped 65% to $3.12 billion in June from $1.89 billion a year earlier, after the central bank allowed more banks and traders to buy bullion overseas, the Commerce Ministry said yesterday. June imports were estimated at about 74 metric tons.
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Gold Rebounds From A Three-Week Low As India Imports Gain
IMPORTANT ANALYSIS
Gold is Still Looking Good – But Watch This Price Level Closely
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GLD Worries About Failure of Unallocated Gold
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»
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Who are the war profiteers again? Who dies in these wars?
The Fascist Oligarchy would like to thank those people that will die and be maimed in the upcoming war for their service .
Dupe
So is the thinking that the wheat price pops because of that bread basket thingie that the Ukraine has going for it or has wheat become a dollar replacement candidate?
They are coming out of the woodwork....
The Kansas wheat crop is in the worst shape ever. No water for irrigation to grow wheat in northern China either. Fundamentals driving wheat.
So what? We're always seeing little bumps in the price of gold when there's some geopolitcal news. Will it stick this time?
watch this hand over here while the other hand goes god only knows where. they are right now figuring how much gold paper they have to sell for a minus those damn crooks. I really can't wait untill the American people wake up and smell what they have on that other fist.
Russia's "failure to curb violence in Ukraine". Great. If they cross the border, they invaded Ukraine. If they don't go there how are they going to "curb" anything? What kind of bullshit is this? They're doin the best they can over the telephone, fuckwad.
hey dumbshit, 800 is your combined sat score I take it? Russia could "curb" the conflict by stopping the proxy war they created, fueled, supplied, and escalated in Ukraine.
You think people would voluntarily fight for Russia? They have a permant draft there for a reason. You seriously think people would risk their lives to become serfs for Putin's oligarch crew?
You obviously know as much about Ukrainian history as you do about fornication. But I'll give you a free tip (although I really don't believe you have it in you to get it). Anyway, if you want an excellent lesson in Ukrainian history and an explanation of the situation on the ground, listen to John Batchelor and Professor Stephen F. Cohen who have been giving a blow by blow of the Ukrainian civil war. Tfmetalsreport.com will give you links to the on-going discussions. If you listen carefully, you will have a decent chance of not showing your bare ass in front of the zh world when you open your mouth.
why malaysian?
it was probrably the old malashan flight and they needed to start something and they had to do something with those bodies but I'm just thinkin out loud
100 AIDS scientists in the shootdown headed for a convention.
Bath House launches another biowar attack by killing the scientists!
"Poppie Busch toarpedoed the Lucitanias two"
I read that hear in the comments section......