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Views on Commodities
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  • Squawk / 47 minutes ago
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Gold has been on the defensive during Asian trading following a very ugly day yesterday. The news that Ukrainian forces had launched special operations and Putin's warning about a civil war only helped to stabilize the price and not attract new buying. For now the market is back in neutral after the positive sentiment built up over the past week was wiped out in a matter of minutes. The change in sentiment has been driven by improved US economic data this week but also a report from the World Gold Council yesterday did some damage as it estimated that China may have 1,000 tons of gold tied up in trade financing deals. This puts into doubt the future demand from China should the government intensify its attempt to crackdown on using commodities to raise finance. Resistance is today's pivot at 1304.6 followed by 1313. Support at 1293 and 1282
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  • Squawk / 1 hour ago
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    Technical Analyst / FuturesTechs
    United Kingdom
    Yesterday's price action proved that 1300 is NOT a level to watch in Gold. Far more important technical levels are 1285 and 1305, then 1314 above that, where I'd be looking to short a rally today.
    Read the Squawk
    Waheed786 Waheed786
    Thank you.Do you think it will pop up first Clive to R 1314?
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    After yesterday's choppy price action, and as things are thinning out for Easter, I would not be rushing into a trade, so think the prudent thing to...
    Waheed786 Waheed786
    Good advice Clive.Thank You.
  • Editor’s Picks / 1 hour ago

    China's gold fever to cool in 2014

    After last year's massive bullion buying spree, China's gold fever is set to cool in 2014 as consumers grapple with a slowing economy, said World Gold Council (WGC).
    "The sudden price drop in 2013 meant some Chinese consumers brought forward jewellery and bar purchases, which may limit growth in demand in 2014," the industry body representing gold miners wrote in a new report on Tuesday.
    Read article on CNBC Go to post
  • Squawk / 3 hours ago
    commoditymarket2008 commoditymarket2008
    Technical Analsyt / commoditymarket2008 Advisory Services
    Read the Squawk
  • Squawk / Yesterday at 14:26 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Precious metals led by silver are having their own mini "Black Monday" on the anniversary of golds biggest two day sell-off in three decades last April. The whole sector including palladium has succumbed to selling after reaching the highest level since August 2011 yesterday.
    The sell-off today in gold was driven by a technical break below trend-line support at 1314 and the stronger than expected CPI did the rest by pushing it through 1300 support. Any renewed escalation in East Ukraine could now receive some fresh buying as many newly established longs has been washed out.
    Both crude oils are lower ahead of tomorrows US inventory report which is expected to show a rise in domestic inventories to the highest level since last November.
    Arabica Coffee is having another volatile day but remain above 2 USD/lb in New York.
    Copper has slumped back below 3 USD/lb and Nickel has dropped the most in nine months as worries about a Chinese slowdown outweighed supply concerns
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  • Squawk / Yesterday at 12:37 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Stronger US economic data sending gold lower for the second time in two days. The higher than expected CPI took out stops below 1300 and seven days worth of buying has been removed.
    Read the Squawk
  • 19h
    fxtime fxtime
    Yeah yesterday was an outside candle so short term R1 and S1 was established for trade entries and now a mean reversion? Prefer that we are entering...
    Waheed786 Waheed786
    1320 today?