Market Report: Hidden in plain sight
Gold and silver sold off this week, with gold falling $11 from last Friday’s close to $1317 in early European trade this morning (Friday),...
Market Updates
Market Report: Weaker, but in consolidation pattern
Gold and silver continued their consolidation of the last few weeks, becoming progressively less overbought in the process. Since last Frida...
Market Report: Taking a breather
In early European trade this morning (Friday) gold was down $2 from last Friday’s close at $1,347. Silver is down 25 cents at $17.18. Come...
Weekly DOE Oil Charts - January 26, 2018
Conclusion: Overall inventories built this week, particularly crude (which is seasonally normal). Cushing still drew, we think this needs to...
Market Report: Gold and silver may be due for a pause
This week, gold and silver continued their rise from the 11 December low, and are now up 9.3% and 11.6% respectively. In a little over five...
Weekly DOE Oil Charts - January 19, 2018
Conclusion: Further declines in US inventories, faster than even we predicted. Oil production growth is strong at close to 1mb/d and is now...
Overbought PMs consolidate
It had to happen after a terrific run from early December, so a consolidation in precious metals is hardly a surprise. With gold trading at...
Weekly DOE Oil Charts - January 12, 2018
Conclusion: US petroleum inventories continued to declined rapidly, particularly Cushing stocks. Net imports are again at extremely low leve...
Market Report: Gold persistently strong
The first half of the week saw gold and silver consolidate recent gains, which given the sharp rise since early December was only to be expe...
Market Report: Gold and silver take off
Since gold bottomed at $1237 on 11 December, it has gained 6.5%, and silver 9.5%. In early European trade this morning gold was at $1317.50...
Weekly DOE Oil Charts - December 29, 2017
Conclusion: US petroleum inventories showed a small counter-seasonal build this week, but crude stocks still drawing relatively fast. We bel...
Market Report: A beautiful bigly squeeze to end the year
Doubtless, that is what this year-end rally would be called in Trumpian lingo, and the “bigliest” of squeezes is in silver, where shorts...
Market Report: Books are balanced, time to party
At least, that’s how the bullion bank traders must be thinking. Ahead of the Fed’s quarter-point rise in the Fed funds rate, they spooke...
Market Report: Outlook for gold – 2018
Regular readers of these market reports will have not been surprised by the sell-off this week ahead of the FOMC’s quarter point rate incr...
Weekly DOE Oil Charts- December 8, 2017
Conclusion: Another week of counter-seasonal draws. The draws continue to be concentrated in Crude. Cushing, the point of delivery for WTI c...
Market Report: PMs overshadowed by cryptos
Gold and silver had a torrid week, with gold falling $31 from last Friday’s close to $1249 in early European trade this morning. Silver wa...
Weekly DOE Oil Chart- December 1, 2017
Conclusion: Bit of a mixed bag. Overall larger than normal draws, with large crude draws but large gasoline builds. Net imports still at ext...
Market Report: Seasonal slam
Gold and silver suffered a sell-off, repeating what we saw in late November in both the last two years. The attack on precious metals is fut...
Market Report: Firm undertone
Gold and silver prices on balance drifted with an upwards bias over the week, with a firm undertone. Interest was impacted by the US Thanksg...
Weekly DOE Oil Charts- November 22, 2017
Conclusion: This weeks stats need some more explanation. We have an overall tight situation for PADD2 in the US with Keystone out until the...