Economic Calendar

A choppier and weaker overnight session than I expected for the precious metals after yesterday’s technically strong NY closing prints, with a Bitcoin-driven price smash at the European open erasing roughly half of yesterday’s gold & silver rally.  The dollar and G7 bonds yields headed lower though since the 3amET, which seemed to give the […]

A very strong rest of the day for the precious metals, thanks in part to a strong stock & crypto market rally into mid-day.  I wouldn’t say there was a specific headline catalyst per-se, but it felt like equity investors finally started to pay attention to Waller’s dovish commentary and the fact he helped bump […]

A solid start to the week for the precious metals, despite last night’s early gold selloff following Secretary Rubio’s “good progress” comment on Ukraine-Russia peace talks.  Bond yield declines in Europe, increasingly more bullish gold outlooks from Deutsche Bank and UBS, and another December rate cut reiteration from the Fed’s Waller all seemed to help […]

A bit of shaky start as expected for the precious metals in early Asian trade last night following yesterday’s soft NY closing prints.  China came in and bought all the metals (base & precious) aggressively during their opening hour of trade, ultimately triggering breakouts above yesterday’s highs.  Copper than popped 1% from 4-6amET following a […]

A volatile rest of the day for the precious metals, largely because of a re-coupling of gold with the stock market after the S&P cash open.  First, a flush into the London close, then a short covering rally into the overnight high (triggered by Saudi MBS’ surprise decision to increase US investments to $1 trillion), […]

A nerve-racking Asian session for the precious metal bulls last night because gold & silver quickly gave up their bounces above Friday’s lows, and Chinese demand did not show up.  The stopping out of a few thousand more gold long positions below yesterday’s lows around 2:30amET, and a bounce for the S&P futures and Bitcoin […]

A miserable rest of the day for the precious metals, with Friday’s lows indeed giving way earlier on following this morning’s breakdowns below the COMEX opening ranges.  Can’t say that hawkish Fed-speak was the trigger for that this time around (Jefferson actually thought upside risks to inflation had “declined somewhat”); instead we saw a hard-to-explain crypto […]

A brutal end to the week unfolding for the precious metals as we speak.  Chinese gold market participants did their part last night to quickly erase a portion of yesterday’s losses, but they faced stiff resistance at Wednesday’s COMEX closing range (intra-day resistance yesterday as well and where the market plateaued before the Fed’s Hammack […]