The company’s net dollar retention rate is above 100%, a positive signal that indicates it is garnering more revenue from the same cohort over time, i.e., negative net churn.
While gold and now silver prices are shooting to the moon, and the other side, gold and silver miners are experiencing severe production disruptions that spoil somewhat any benefits. Gold’s attribute as an anti-fiat hedge may outshine other assets in this environment and push the precious metal higher. Gold trading less than 92% of its 200dma is extremely oversold, marking major correction bottomings. However, I expect initial support levels to hold and gold is likely to reach $2,000 within the next couple of months, in my view. Production of gold equivalent was down from the same quarter a year ago and sequentially. The second-quarter results have been lower despite the firm gold price that keeps on rising that just topped $1,900 per ounce today. Below is the gold production per producing mine in 2Q’20. This week warnings are flashing that gold and silver are entering that precarious state, where odds increasingly favor imminent selloffs. We remain heavily invested in GSMs because the Fed’s perpetual monetary base expansion should enable gold prices and GSMs to go substantially higher from here.
Gold and silver are powering higher on balance in secular bull markets that have been running for years. Note: The production per gold equivalent ounce does not include the pre-commercial ounces from Barnat Au Oz), which are included in the gold production above for Canadian Malartic mine. However, it is difficult to establish a solid short-term strategy with gold and silver experiencing such massive positive momentum.
The most direct route for a risk position in the natural gas market is via the futures and futures options that trade on the NYMEX division of the CME. In an article we published earlier this week, we noted that the bears were running out of time in trying to push natural gas prices even lower. So for those trying to time natural gas price rise, we think the October – December contracts are a better way of playing the price rally. Those turbines might be powered by wind, water or biomass, but in most of the developed world, they are powered by the carbon fuel we call natural gas. The price of natural gas tends to peak at the beginning of the withdrawal season each year when stocks decline. The price differential between natural gas for delivery in August 2020 and January 2021 is a function of both the high level of stockpiles and the energy commodity’s seasonality.
Open interest, the total number of open long and short positions in the natural gas futures market was flatlining around the 1.302 million contract level. EIA natural gas storage report today was also supportive with a build of 37 Bcf vs. our estimate of 30 Bcf. Natural gas is attempting to reverse the pattern of lower highs and lower lows that has been in place since early May. Natural gas is not running away on the upside any time soon; stockpiles are too high even though there are signs that production is slowing. The price of August natural gas futures rose from $1.605 on July 20 to a high of $1.818 on July 24 or 13.27%. The United States is the top producing country of natural gas in the world.
But even if things get that bad, GE will just be one amongst many companies to receive a lifeline from the Fed and the U.S. Treasury. While market participants are largely expecting for the Fed to keep rates unchanged, positive commentary on the outlook could boost expectations for future price growth. But Mr Trump, during his first of the day’s two planned media appearances, was focused on his predecessor, as he so often is. For example, one newsletter editor in mid-January 2000 said he was encouraged that the Fed was signaling that it wouldn’t be raising rates as aggressively as previously thought. He also added that a payroll tax holiday – vocally advocated for by US President Donald Trump – will not be included in the upcoming aid package. Mr Trump made the remarks as part of a congratulatory message he sent to Michael Flynn, the retired Army three-star general and his first White House national security adviser. The decision to remove the statues came after US president Donald Trump announced the deployment of federal law enforcement agents to the city on Wednesday.
Having said that, Mr. Mnuchin said that such a measure may appear in future legislation. “There’s never been anything like that around,” Mr Trump said of his conspiracy theory about the Obama administration. The 10,400 level is extremely important here, and if it breaks down the Nasdaq will very likely see a bigger pullback to roughly the 10,000-9,800 level. Trump critics, including many congressional Democrats, have accused the president and Attorney General William Barr of intervening in the probe and orchestrating a decision to drop the charges. Economic improvement in the US is in doubt as Coronavirus cases surged higher in states that had reopened.