Daily Close | Forex, Metals, Oil, Agriculture May 06, 2021



All of this has dollar bulls worried that NFPs could fall short of expectations especially since the whisper number is above a million. The U.S. dollar should be trading higher on these lofty expectations but instead is mostly lower.


less Gold and silver prices have put in a strong session so far today as precious metals look to extend their rebounds with conviction. With real yields turning low and precious metals regaining their luster, it seems increasingly likely that gold price action has officially bottomed around $1,680/oz. As a result, I think silver’s ultimate peak could be $300, and I won’t rule out possibly even higher. less I know this might sound ridiculous to some, but I think silver could reach $300.
With unprecedented economic stimulus programs, many favoring green energy, silver is uniquely positioned to profit. Silver, which tends to be more sensitive and volatile than its yellow-metal cousin, jumped 3.5% to trade at its highest level in ten weeks. Gold price action popped 1.7% and eclipsed a major technical resistance level around $1,800/oz. This brings channel resistance into focus as a potential topside objective for gold bulls before a bigger breakout toward all-time highs is considered.
Silver in particular has the added benefit of 50% of its demand being industrial. You see, when silver went through its 1970s bull market, it started from a low of $1.31 in October 1971. By the time it reached its peak in 1980, silver had run all the way up to $49. What’s more, according to Metals Focus, silver supply was down 4% in 2020 by 42M ozs. If we consider that silver was priced at $4.20 in late 2001, a 37x return would take it to about $155. Gold prices now look teed up for continuation higher following the latest move above $1,800/oz.


Suburban Propane Partners is a small cap company that offers propane and heating oil in 41 states to 1 million customers. Drivers include unseasonably cold weather, maintenance in Norway, reduction in UK LNG sendout and an outage at Montoir LNG terminal in France.

United States

In January, Trump amended the order so that it banned altogether any Americans from holding securities of blacklisted Chinese firms from November 11th, 2021, rather than just additional purchases. We found a few that are cheaper than their peers with good price set ups in the economically sensitive space while continuing to be cautious of technology. This follows the bullish cue I pointed out last week on the back of dovish Fed policy guidance. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
For example, one strategy sold all of its Nasdaq 100 and half of its Russell 2000. Wall Street had been expecting the company to swing to a quarterly loss. The Dow Industrials have been the strongest and the Nasdaq 100 has been the weakest.


James Stavridis Britain and France won t go to war over fishing rights, but expect regular disputes over such details in the Brexit era.