Daily Close | Forex, Metals, Oil, Agriculture December 07, 2020



less General Comments: Winter Wheat markets were lower as US prices moved closer to international prices and US markets searched for new demand. The market in Russia has remained high on limited supply as farmer hold the Wheat back due to the drought. It also covers the commodities market daily focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN & WHEAT. Overnight News: The southern Great Plains should get dry weather.


Apple (NASDAQ:AAPL) and many others are standardizing and normalizing transacting large dollar amounts on the go, and this tailwind will benefit Skillz. Peter said recently dollar weakness is just the harbinger of much weaker days to come. Via SchiffGold.com, The US dollar has been showing significant weakness over the last several weeks. In his podcast, Peter talked about the dollar weakness and the Federal Reserve policy that’s causing it. Compared to the Swiss franc, the dollar is at a 6-year low.
The dollar index closed at 90.814. The net-result of the concern around Brexit is that Euro rally has paused, but a small setback may not mean the bullish breakout attempts are finished.


Corvus Gold is a risky gold exploration company and should essentially be traded short term. *However gold and TIPs are up, plus gold miners like , KL is up 4.7%. If the gold price continues its recent momentum and reaches $1,900 per ounce, I believe KOR could retest $2.85. He is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the gold market. The project is now more valuable, with gold and silver at $1,850 per ounce and $24 per ounce.
In the early days of the pandemic, investors moved into gold because they wanted a safe haven from the market volatility the response to coronavirus caused. The company will continue to advance the projects and grow resources until a bigger fish will consider it worth a trial and acquire Corvus Gold. But gold has shown weakness of late and has not responded to the growing inflation pressures because the stock market has been soaring. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the “pro aurum group”.
As well he is publishing his bi-weekly comprehensive for his numerous international readers focusing on Gold, Silver, Mining, commodities and cryptocurrencies. However, I think the gold price will ultimately retest the $1,750 area before resuming a potential uptrend. Corvus Gold currently holds 100% interest in two mineral properties in Nevada, the North Bullfrog Project NBP and the Mother Lode Project MLP, both in Nevada.
It’s one of the six gold equity actually trading on the Nasdaq Exchange. The mineral resource for gold is 2.1Moz measured and indicated with 0.41 Moz inferred. The stock is strongly correlated to the gold price. Aggregate payrolls (gold) – tracks total payrolls rather than jobs. The LOM is estimated at three years with annual gold production of 171K Au Oz. Nevada is a booming sector for gold and also silver. Watch the gold price like a hawk. In 2015, Corvus sold its wholly-owned Alaskan subsidiary, Raven Gold Alaska Inc., to Millrock Resources.


Natural gas prices are getting hit hard again today following even lower heating demand projections over the weekend. Bespoke Weather Services – The premier blended weather and natural gas analytics service custom-designed for gas investors, traders, and brokers. Record LNG exports have supported a very tight underlying natural gas supply/demand imbalance, despite rebounding production which has rallied 5 BCF/day from the mid-October lows. Over the last several days, we have seen a perfect storm of factors come together to lead natural gas prices much lower.
This has created a significant tailwind for natural gas where even seasonal temperatures can result in bullish storage withdrawals and colder-than-normal weather will drive exceptional builds. As a result, natural gas demand has not only recovered, but has climbed to new all-time highs. But given the natural gas fundamentals today, does it make sense for prices to fall to $2.15? LNG exports probably won’t be able to climb above 12 BCF/day due to current export capacity, but I expect demand to hold above 10 BCF/day.
This will override the bullish underlying fundamentals driven by record LNG exports and could lead to further selling pressure.
This is largely thanks to the fact that Lower 48 production has once again fallen below ~90 Bcf/d and LNG exports are firmly above ~11 Bcf/d. What, then, has triggered the remarkable 8 BCF/day surge in LNG exports over the past three months? The latest supply/demand numbers, including LNG exports, can be found on my site, updated each morning. A sizeable $1.046b portion of their net debt relates to Golar LNG Partners and thus some investors may feel that this should be excluded from the analysis.
With new corona-virus lockdowns, the price of oil has fallen. Even if the $590m relating to Golar LNG Partners is once again excluded they still have $651m of maturities to refinance. The third and fourth quarters of FY-20 were among the worst in recent memory for Cracker Barrel. So, instead of dampening those expectations, the Fed is basically throwing gasoline on the fire.

United States

The crazy thing about the rising inflation expectation is that the Fed appears poised to try to fight it with even more inflation. Mr. Bernanke wanted the Fed to stimulate the stock market, create a wealth effect for consumers, who would then act as the driving factor in the following economic recovery. Because when the Fed has to acknowledge that it can’t fight inflation, that it has to surrender and inflation wins, you know, they’re done. Well, Mark Hulbert, writing in the Wall Street Journal states that U.S. economic uncertainty remains at near-record levels, and the stock market is at an all-time high.
The Fed is not going to fight inflation. This was in response to the economy recovering – thanks in no small part to the Fed’s unprecedented creativity and additional economic stimulus (remember “cash for clunkers” etc.?). The Fed is going to surrender to inflation. This past Friday, new highs were reached for the Dow Jones Industrial Average, the S&P 500 Stock index, and the NASDAQ.
It appears that Federal Reserve officials are very sensitive to any fears investors might have that the Fed has changed direction. For discussion of how far China is behind on trade commitments, please see How Well is the US Doing on Trump’s Deal With China? In the US, support for these types of trials is waning – according to the Guardian – following the Pfizer/Moderna PR blitz. For discussion, please see How Will Biden Differ From Trump on Trade and China Policy?
With this recent strength in price behavior, there is a likelihood that the US$20,000 levels will be successfully attacked (A). 2 trading partner, were up 8.6% after being down 7% in October, according to calculations made by The Wall Street Journal. On Monday afternoon President Trump gave a briefing to reporters on Giulliani’s condition, saying his personal attorney is . The current detachment would not exist without the Fed’s largesse. Yes, the US has long had illegal betting markets.
Via RealClearInvestigations.com, In one corner, President Trump and his allies claim cost him the 2020 election.
The markets should be scared.” What this really shows is that the Fed is at the end of its rope. During the month of November the Dow Industrials, S&P 500, NASDAQ and Russell 2000 all made new all-time highs.


On Monday the Department of the Treasury announced it has , after last month Hong Kong’s Beijing-backed government expelled four opposition member’s from its legislature.


While a ‘no deal, hard Brexit’ hurts the UK more than the EU, the knock-on effects of a fractured trade deal may spill into international relations (e.g. With a Brexit deal increasingly unlikely, the pound sterling has dropped which boosted UK large-cap shares that earn foreign currency. The upcoming December ECB meeting, despite expectations for enhanced easing, seems like a non-concern at the moment.