Gold
Gold tests resistance at $2930 – $2940 as traders bet that demand from central banks will stay strong in the upcoming months.
Silver
Silver gains ground as traders react to the strong performance of gold markets. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.
Platinum
Platinum is stuck near the $1000 level as traders wait for additional catalysts.
Source – FXEMPIRE
“Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”
“You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.
The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.
Source – Bloomberg
Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.
The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.
Source – FXEMPIRE / Opinion
Copper is generally a good indicator because it’s used all over the economy — in factories, houses, electronics and streetlights, per Chris Berry, founder and president of House Mountain Partners.
“The next time you’re on an airplane at night, and you’re coming in for a landing, and you see any lights or anything like that, every single one of those lights is working because of the electrical conductivity of copper,” he said.
So, if the economy is growing, and we’re building more, we’ll need more copper.
Source – Market Place
The silver market has seen a lot of noise at the $33 level, as it is a major resistance level from what I can see. At this point, you need to understand that the silver market is not just a precious metal, but an industrial one.
Source – FX Empire
“This was an audacious raid which had been carefully planned and executed,” prosecutor Shan Saunders said. “But those responsible were not careful enough, leaving a trail of evidence in the form of forensics, CCTV footage and phone data.”
The purloined potty was stolen just days after its installation. It has never been recovered but is believed to have been cut up and sold.
Jones, 39, was convicted of burglary in Oxford Crown Court.
The theft was planned by James Sheen, 40, who previously pleaded guilty to burglary, conspiracy and transferring criminal property.
Doe, 36, also known as Frederick Sines, was convicted of conspiracy to transfer criminal property.
A fourth man charged in the conspiracy, Bora Guccuk, 41, was acquitted by jurors.
Source – CBS News
WOW! Looks like justice was served. I will continue to follow up on jail time. Stealing a gold toilet from Winston Churchills house is bold to say the least. I wonder if the art will be made again after this. We’ll see! – V.
U.S. President Donald Trump’s threatened tariff on copper imports has generated a mass relocation of physical metal, swamping the U.S. market and draining the rest of the world.
The physical response has been so powerful that it has caused the futures arbitrage between the CME contract and the London Metal Exchange (LME) price to collapse.
CME copper inventory has risen by 81% since the start of the year and is now at an eight-year high of 168,563 short tons (152,919 metric tons).
LME copper inventory has slumped to a one-year low of 179,375 tons, with 40% of what remains awaiting physical load-out.
China’s imports of refined copper fell 5% on a year-over-year basis and 20% on a quarter-over-quarter basis in the January-March period as metal was diverted to the U.S.
Source – Reuters
