Currencies
A weaker dollar and a surprise decline in U.S. crude inventories sent oil prices to an 8-month high on Wednesday too. Also, the dollar index hints at further weakening in the dollar. For Q3 2020, Gross Dollar Volume grew by 1% year on year globally, including by 4% in the U.S. and staying flat in non-U.S. (excluding currency). BL Research BureauThe rupee (INR) settled higher by nearly 10 paise yesterday against the dollar (USD).
Metals
Source: World Gold Council, author-generated graphic Even before the pandemic caused mine closures in Q2 of this year, you could make the case gold mine production peaked in 2018. According to the World Gold Council, investment demand for gold is now substantially higher than it has been over the last ten years. The company has 116 billion pounds of copper reserves, 30 million ounces of gold reserves, and 3.6 billion pounds of molybdenum reserves. Freeport-McMoRan Quarterly Results – Freeport-McMoRan Investor Presentation Freeport-McMoRan has achieved copper and gold sales at 6-7% above July estimates with costs and capital below estimates.
However, it’s also worth noting that copper long term is incredibly important; electric vehicles use significantly more copper. Copper Market Performance – Freeport-McMoRan Investor Presentation Historically, after major downturns, copper markets have recovered incredibly significantly. My point is, essentially, if you like gold for monetary reasons, there is a bull case for bitcoin as well.
Most people view gold, silver, and platinum as commodities, and speculators trade the metals for short-term profit. The last 3 quarters of gold ETF inflows have been higher than every other quarter going back to Q1 2016. In that article, I talked about why gold bulls should consider rotating some profit into bitcoin.
However, it’s also worth noting that copper long term is incredibly important; electric vehicles use significantly more copper. Copper Market Performance – Freeport-McMoRan Investor Presentation Historically, after major downturns, copper markets have recovered incredibly significantly. My point is, essentially, if you like gold for monetary reasons, there is a bull case for bitcoin as well.
Most people view gold, silver, and platinum as commodities, and speculators trade the metals for short-term profit. The last 3 quarters of gold ETF inflows have been higher than every other quarter going back to Q1 2016. In that article, I talked about why gold bulls should consider rotating some profit into bitcoin.
Oil
We also write daily and weekly reports, covering key variables in U.S. natural gas market (supply, demand, storage, prices and more). Source: Bluegold Research estimates and calculations This week, the U.S. Energy Information Administration should report a larger change in natural gas storage compared to the previous week. Total average daily consumption of natural gas (in the contiguous United States) should be somewhere between 83 bcf/d and 86 bcf/d. Chinese and Indian refiners have issued a flurry of buy tenders seeking crude for loading in January, highlighting strong oil demand coming from parts of Asia.
Meanwhile, Brent crude futures, the global oil benchmark, was trading 0.62 per cent higher at $48.83 per barrel. Iraq has also criticized the cartel, saying economic and political considerations of members should be taken into account rather than OPEC taking a one-size-fits-all approach. Canada is also dealing with a second wave that’s hitting the country’s oil heartland.
Meanwhile, Brent crude futures, the global oil benchmark, was trading 0.62 per cent higher at $48.83 per barrel. Iraq has also criticized the cartel, saying economic and political considerations of members should be taken into account rather than OPEC taking a one-size-fits-all approach. Canada is also dealing with a second wave that’s hitting the country’s oil heartland.
United States
Trump has routinely described all sorts of new military technology, including fifth-generation stealth jets, hypersonic missiles, and increased nuclear weapon capability. XP (NASDAQ:XP) went public in December 2019, with the company and selling shareholders selling a combined 72.5 million shares at a price of $27.00 per share. President Trump has described the trillions of dollars allocated to the military as a “colossal rebuilding” effort – something he says has ‘never been done before.’
Novartis (NYSE:NVS) is one of the biggest pharma players in the world, yet its stock is relatively underfollowed, at least in the US. We recently highlighted the possibility that the US and China “may well be on the road to war, and nuclear war is no longer unthinkable.” Stock Market S&P 500 [SPX] Index and Nasdaq [NDX] Technical Analysis Elliott Wave for Investing trends or day trading. He said, “today, we had a distribution that fed 2,000, and we have these distributions all the time.”
Note: Some of the securities in this report are OTC stocks with very low liquidity in the US markets. Stock exchanges on Wall Street ended on a mixed note in overnight session. Conversely, maintaining Trump’s policies could have the opposite effect.
Novartis (NYSE:NVS) is one of the biggest pharma players in the world, yet its stock is relatively underfollowed, at least in the US. We recently highlighted the possibility that the US and China “may well be on the road to war, and nuclear war is no longer unthinkable.” Stock Market S&P 500 [SPX] Index and Nasdaq [NDX] Technical Analysis Elliott Wave for Investing trends or day trading. He said, “today, we had a distribution that fed 2,000, and we have these distributions all the time.”
Note: Some of the securities in this report are OTC stocks with very low liquidity in the US markets. Stock exchanges on Wall Street ended on a mixed note in overnight session. Conversely, maintaining Trump’s policies could have the opposite effect.
Europe
Novartis’ pipeline is deep and includes several candidates that the company expects will get approved over the coming year, including Kesimpta in the EU. Prime Minister Viktor Orban will host Polish counterpart Mateusz Morawiecki in Budapest as the rest of the EU looks for any sign of compromise.
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