Daily Close | Forex, Metals, Oil, Agriculture March 09, 2021



Wheat markets were lower but mostly held the trading range for one more day. Ideas are that forecasts for rain in the Great Plains will help injured Winter Wheat.


One of the key indicators that was constantly pointing to lower precious metals values over the past several months was mining stocks’ weak performance relative to gold. If gold were to decline to the next support zone at $1566 (doubtful but possible), investors may want to consider buying with no stoploss there. Last week saw another big test when Gold prices moved-in for a test of the 38.2% Fibonacci retracement of the 2018-2020 major move. Their actions are obviously insane, and that’s why citizens need to own gold (as well as platinum, silver, and perhaps some crypto).
They’ve been doing nothing for the past several days, due to the lack of bullish leadership in gold. A push through $1760 is needed to put the gold market back in a solid price-positive posture, and from there a rally to $1820 is likely. You can drink it neat or mix it into a concoction, and it will make for a great way to celebrate gold’s eventual rise. Gold has arrived at the outskirts of the $1666-$1671 support zone.
Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools. Gold (here: the GLD ETF, which I’m using to have an apples-to-apples comparison – both ETFs trade on the same exchange) continued to decline in March. Gold prices have yet to re-engage with that prior high at 2075. For gold itself, a stoploss under $1666 can be utilized to manage risk. Gold moved to new yearly lows yesterday (Mar. Recent moves in gold and the USD have made miners an attractive short-term bet.
What about gold? It’s an area where I’m buying metal, but with a focus on silver and platinum. The GDX miner’s ETF shot will be best when downed quickly.


After EIA’s report for last week’s draw of 13.62 million barrels, we expect total gasoline stocks to be drawn by 3.5 million barrels for the week of March 5th. Last week’s record high draw of gasoline inventories resulted in stocks below five-year minimum. The fundamentals suggest that outlook for gasoline is bullish in coming weeks as US consumption improves and the supply will have to be met by additional imports. For more details visit the page US East & West Coast Gasoline Import Forecast or copy and paste link in EIKON search box: amers1.apps.cp.extranet.thomsonreuters.biz/cms/?navid=942731478 Your comments are always welcome.
The volatility in crude oil and gasoline prices has been clearly reflected in recent years in both the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). The Gasoline Import Forecast of US West Coast stands at 40,000 bpd aboard one MR tanker for the week ending March 5th.. Demand, especially from vehicles, is expected to surge, and controlling the resources that power them is the 21st-century version of oil security.
Meanwhile, dropping lower on the New York Stock Exchange (NYSE) is oil equipment stock .

United States

less Share The recent run up in GameStop and other stocks involves investors in opposing camps: traditional Wall Street firms and small investors who are bucking the system. March 2 – Daly (San Francisco Fed president) says that the steepening US yield curve is a “sign” of market optimism regarding the shape of the economy. less The powerful sell signal for the Nasdaq that I issued in February has been followed by a disturbing “tech wreck” in the US stock market.
The other sector with the largest exposure to the Nasdaq Index — consumer discretionary — is also beaten down badly in the tech rout.
But there has been a consistent theme among Fed speakers: rising yields are a positive sign of improving economic growth prospects. The information drip has run dry in recent days, however, as the Fed is now in its pre-meeting communications blackout period. March 3 – Fed Beige Book released, showing optimism over the state of the economy thanks to increased vaccination efforts. Among the world’s three largest tech stocks—Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT)— our favorite pick is Apple.
This ETF provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Those suggesting that the Fed is ready to throw in the towel may want to reconsider. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. less Image: Shutterstock The tech-heavy Nasdaq Composite Index has turned from an outperformer to a laggard.
In fact, the Nasdaq is down nearly 10.6% from its February peak, signaling that it hit the correction territory. 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. Peacock has over 33 million sign-ups for its service, which Roberts noted was 50% more than initially expected.