Daily Close | Forex, Metals, Oil, Agriculture February 16, 2021



Just as the global coffee market does not deal in cups of mocha latte. Or, there could be a more prosaic reason: perhaps Covid regulations have tripled the cost that goes into serving a cup of coffee. In the overnight electronic session, the March corn is currently trading at 544 ¾ which is 6 cents higher.


For that, one looks at the dollar of course, credit, interest rates, other currencies, the economy, and even wild cards like bitcoin. “Every dollar increase in crude translates to about 2.3 cents increase in the cost of gasoline,” Kloza said. The dollar keeps topping out, which I called it to do a week ago – and its losses have been mounting since.


We calculate the gold fundamental price and the silver fundamental price (methodology described below) every day, and our data series goes back to 1996. Although the precious metal has lagged behind its Gold counterpart, recent trends suggest that Silver is becoming increasingly popular as a viable asset. Since the Covid lockdown, the gold and especially silver basis have been reading artificially high (and thus their fundamental prices are too low). Gold performance is still short-term disappointing, and silver and platinum are leading.
less This is our annual analysis of the gold and silver markets. A year ago, and with the price of silver around $18.30, we called for silver to hit $23.50 and a gold-silver ratio of 70. All of that stockpiled gold represents potential supply, under the right market conditions and at the right price. Silver is likely to soon blast through the summer highs while gold struggles to do so. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.
I think so, and the institutional money surge into the private monies of platinum, silver, and bitcoin is making the fiaticians look like stone age cavemen. The bottom line is that the global mine supply for platinum is only a fraction of the supply for gold. less Gold is dodging bullets, as it comes increasingly under fire from rising U.S. interest rates and a USD that is poised to surge. Please see below: Figure 1 Mirroring what we saw at the beginning of the New Year, gold’s triangle-vertex-based reversal point remains a reliable indicator of trend exhaustion.
As the cycles intensify, gold will likely get tokenized, and re-emerge as the world’s price appreciation leader. My strongest recommendation for investors is to focus on silver, platinum, and crypto at this stage of the inflation and private money supercycles. Obviously, persistent (as opposed to a one-day spike) retail demand will pull silver from the global bullion market.
Catching unsuspecting traders in yet another bull trap, gold’s early-week strength quickly faded. Since its launch in 2009, its adherents have promoted it as an inflation hedge, like a new version of gold. Here is a graph showing the gold fundamental for three years. For now, XAG/USD remains rangebound, with the key psychological level of 2800 currently providing resistance for Silver bulls.


The coldest weather in 30 years badly hit Texas — by far the country’s largest crude producer — shutting oil refineries and forcing restrictions from natural gas pipeline operators. Sure, some wind turbines glitched under cold weather conditions, but so did natural gas and coal-fired power. “The jump in gasoline prices could be greater if oil begins to move higher. At least some natural gas had to be redirected for heating rather than power, adding to the supply shortage.
Daily Market Update identifies accurate price targets and turning points for indices, forex, cryptocurrencies, commodities, oil, gas, and stocks. Solar companies made triple-digit gains with a constant shift to clean energy as the outbreak devastated the global oil industry. WTI jumped to $60 per barrel for the first time since January 2020 while Brent climbed to above $63 per barrel. “West Texas Intermediate oil futures were up just 0.3% to $59.66 per barrel, after earlier trading above $60.
Natural gas and coal make up the lion’s share, comprising 82%. Oil production in Midland, the capital of the Permian basin, fell as much as one million barrels a day.
In the January consumer price index, the gasoline index rose 7.4% while overall prices rose just 0.3%. On the Crude Oil front, prices pushed near to 13-month highs. In the overnight electronic session, the March crude oil is currently trading at 5966 which is 19 points higher. “You don’t have natural gas, and you don’t have electricity. If someone offered to pay you 1,000 barrels of oil, where would you put it? “What we have is an electric generating problem,” said Andy Lipow, president of Lipow Oil Associates.
It’s difficult for refiners to turn crude into gasoline. That capped gains in gasoline.

United States

The US requires that funds investing in other funds inform the market of what they are up to. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. is the best performer on the Nasdaq today, up 709.6% at $26.23 this afternoon, and on pace for its biggest one-day jump on record. Meanwhile, the — also known as Wall Street’s “fear gauge” — cuts some of its earlier losses.
Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more. Unheard of in the days when all Wall Street could say was “Buy”.