Daily Close | Forex, Metals, Oil, Agriculture January 08, 2021



Poor 2019 fall weather delaying the feed grain harvest across the Plains and low prices prompted the 7th year of lower US winter wheat seedings. Overall, last fall’s US winter wheat seedings are expected to increase by 1.315 million to 31.73 million acres (a 4.3% rise from 2020). With soybean prices on the rise, the potential to double-crop this oilseed behind their food grain also helped advance this variety’s planting by 9% to 6.07 million acres. Last year’s plant-ings of 30.415 million acres of W. wheat were the lowest US seedings since 1909.
This fall’s US WW crop ratings were historically low, but next spring’s rainfall will be the ultimate determiner of the US wheat size. In the overnight electronic session, the March corn is currently trading at 497 which is 3 cents higher.


less The British Pound has had a fairly lackluster week but is seemingly building decent support around the low 1.3500 level which should hold again next week. While markets cheered the news, the safe-haven dollar recovered from the lows. US Democrats’ win of the Senate sparked a mixed dollar reaction.


Hence, the gold fundamentals may turn out to be more positive for gold over the year. less The gold miners’ stocks entered this young new year with a bang, as their leading index surged to a major breakout above multiple key resistance lines. All this is important because gold stocks’ major breakout this week pretty much formally staked their recent correction. Silver should continue to outpace gold, and he expects this bull run to continue for another two or three years.
As well he is publishing his bi-weekly comprehensive for his numerous international readers focusing on Gold, Silver, Mining, commodities and cryptocurrencies. He is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the gold market. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the “pro aurum group”. After getting sucked into March’s COVID-19-lockdown stock panic with gold, GDX skyrocketed 134.1% higher over the next 4.8 months!
That really strengthens the technical case that gold stocks’ next bull-market upleg is underway. As of the middle of this week, GDX commanded nearly 2/3rds of all the capital deployed in gold stocks through all the American gold-stock ETFs! But after shooting parabolic, the major gold stocks held by GDX were extremely overbought. I warned about that new correction soon after while analyzing gold miners’ quarterly results. However, given the inversion of the yield curve in 2019, I expected a kind of economic downturn that would positively impact gold prices.
Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits. The leading and dominant gold-stock benchmark and the trading vehicle is the GDX VanEck Vectors Gold Miners ETF. If and when the crypto world weakens, my hunch is that gold’s weakness will turn into super-weakness. What happened in 2020 and what will 2021 be like for the gold market?
Indeed, it’s good that 2020 is over – and And what did 2020 mean for gold? Poor, poor gold. Oh, and gold.

United States

Besides the Chinese regulatory action, BABA could also be the main target of the US-China trade war, further weakening its investment appeal. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening. The tech-heavy Nasdaq-100 thus became the first major U.S. stock index to rebound from its coronavirus decline in June 2020. Media reports yesterday said the outgoing Trump administration is considering barring investments in Alibaba and Tencent Holdings (OTC:TCEHY).
He also writes our most talked-about publication, an e-letter called , where he reveals how Wall Street’s high-stakes game is really played, and how to win it.
The State Department, Department of Defense and Treasury Department are among authorities involved in the deliberations, according to a report by the Wall Street Journal. Both stories are set for follow-ups and US retail sales are also of high interest after the Nonfarm Payrolls. It includes 100 of the largest domestic and international non-financial companies that are listed on the Nasdaq exchange.
Under President Trump, there has been the most scrutiny on the U.S. listed China-based companies in recent memory. President-elect Joe Biden is vowing to make good on President Donald Trump’s promise of $2,000 stimulus checks to most Americans. The U.S. Department of Justice, the Federal Trade Commission, and dozens of U.S. states are suing ‘s (NASDAQ: GOOG) Google while they build cases against (NASDAQ: FB). The other amazing statistic has been the trade’s tendency to over-estimate the US January WW seedings.
So after 11 years on Wall Street I walked out and left. He is a featured expert on CNBC, Bloomberg, and The Wall Street Journal, as well as other top-tier publications. The US Plains’ fall conditions were mixed. The US is injecting Moderna’s jabs in addition to those by Pfizer. Bonus ReadingA Moment of Clarity for Trump s Reckless Enablers: Editorial Were Boeing’s Max Woes Really Not Pervasive?


: Prime Minister Boris Johnson made a second somber national address in as many weeks, this time announcing a harsh shuttering.