Metals Futures Prices
- The Trend Trader For Futures Trading on Tuesday, August 20, 2019
The Trend Trader helps to identify the current trend status of your favorite futures markets. It not only helps us to stay on the right side of market...
- Currency Playbook - Blue Line FX Rundown
Actionable ideas for the Dollar, Euro, Yen, Aussie and Canadian.
- 30 Year Bonds Outlook and Daily Chat & Futures Trading Levels
30 Year Bonds Outlook and Daily Chat & Futures Trading Levels
- Midday Market Minute
Stocks are on the move higher for the third day in a row. Crude Oil is also seeing a strong wave of buying coming out of the weekend. Given the better...
- Trading the Noise - Blue Line Morning Express
ES, NQ, Crude, Gold. Actionable research out early each morning to brokerage clients with full technicals.
- COPPER - Head&Shoudler with A Completed Correction Suggest Weakness! (Elliott Wave)
Copper can be trading in a five-wave drop, down from 2.80 region, with latest recovery from wave iii lows being part of a corrective retracement.
Futures Market News and Commentary
Dec Comex gold (GCZ19) on Monday closed down -12.0 (-0.79%), and Sep silver (SIU19) closed down -0.182 (-1.06%). Metals prices moved lower Monday as an easing of U.S./China trade tensions fueled a rally in stocks that curbed the safe-haven demand for precious metals. Trade tensions eased Monday and the dollar rose after U.S. Commerce Secretary Ross said Monday that China's Huawei Technologies has been granted a 90-day extension to do business in the U.S. Also, White House economic director Kudlow said on Sunday that recent phone calls between U.S. and Chinese trade negotiators have been "positive." The yuan on Monday fell -0.11% to 7.0507 yuan/USD, just above last Tuesday's 11-1/4 year low of 7.0726 yuan/USD. On the positive side for gold was Monday's downward revision to Eurozone July CPI to a 2-1/2 year low of 1.0% y/y from 1.1% y/y. The weak inflation picture prompted ECB Governing Council member Muller to say Monday that "Eurozone inflation clearly trails the target, and this may mean the ECB will have to add stimulus." Additional stimulus from the ECB may further boost demand for gold as a store of wealth. Ongoing trade and geopolitical tensions, along with dovish central bank expectations, have sparked fund buying of precious metals as long gold positions in ETFs rose to a 6-1/4 year high last Friday and long silver positions in ETFs rose to a new record high last Friday.