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  • Squawk / 6 minutes ago
    commoditymarket2008 commoditymarket2008
    Technical Analsyt / commoditymarket2008 Advisory Services
    India
    SPOT GOLD HAS SUPPORT 1292, HOLD BELOW THEN 1286-1278 POSSIBLE & HAS RESISTANCE 1306, HOLD ABOVE THEN 1313-1323 POSSIBLE
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  • Squawk / Yesterday at 14:26 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    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
    Denmark
    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.
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  • 16h
    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...
    15h
    Waheed786 Waheed786
    1320 today?
  • Squawk / Yesterday at 11:33 GMT
    fxtime fxtime
    Theta Hypothesis Testing at present !
    United Kingdom
    It is interesting to read that China has surpassed India for the purchase of gold but I was unaware that China is also the largest source of mined gold. Over the last decade production has doubled from 217 tonnes to 437 tonnes ( in refined bars) per annum ! Even with this scale of production Chinese demand for the refined bar was at 1066 tonnes (World Gold Council report) however there is approx. 32% difference between Chinese purchases and Chinese consumer purchase thus the difference we have to assume is state buying and in a smaller scale industrial buying. Currently Chinese ore production is increasing but the ore grade is of a lower quality so the volume of finished home produced gold appears to have stalled at current levels. They also have a declining ore reserve base coupled with increased production costs as labour costs more as does the increase of volume of ore required to produce XAU bars.
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  • Squawk / Yesterday at 7:52 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Gold has declined from a three-week high as the price continue to react to the strong US retail sales yesterday which points towards a pick-up in the US economy following the winter slowdown. The lack of escalation in East Ukraine has seen some of the safe haven buying being scaled back not least due to those US numbers. Today also marks the one-year anniversary of the biggest two-day drop in 30 years for gold when on April 12 and 15 it crashed through what was strong support at 1525/oz. In just two days the yellow metal dropped from 1565/oz to 1336/oz.
    Having failed to breach resistance at 1335/oz yesterday gold will once again be looking for support, either from escalating geo-political developments or the 200 day moving average, currently at 1300/oz.
    Silver remain range bound around 20/oz while the bigger picture is building up for a break of some significant trend lines. Until that happens the range to look out for are between 19.2/oz. and 21.0/oz.
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  • Squawk / Yesterday at 6:57 GMT
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    Technical Analyst / FuturesTechs
    United Kingdom
    Brent Crude (June '14) had a good day yesterday and posted a large green candle and suggests support levels at 108.44 and 108.09 now. We hit 109.17 which is the 61.8% retrace of the March 3rd - April 2nd sell-off. Once through here we could see 110.58 then 112.39.
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  • Squawk / Yesterday at 6:38 GMT
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    Technical Analyst / FuturesTechs
    United Kingdom
    We just saw a break of this channel on the intra-day charts in Gold but for now support at 1314 is holding firm. Let's see if the broken channel does a job as resistance on the retest. It's at 1318.7 right now...
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    18h
    Waheed786 Waheed786
    "Today also marks the one-year anniversary of the biggest two-day drop in 30 years for gold when on April 12 and 15 it crashed through what was...
    15h
    Waheed786 Waheed786
    Gold is made today!!
    15h
    Waheed786 Waheed786
    might retest 1300