Commodities

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  • XAUUSD IS Benefitting from The Decline in Yield

    Past performance is not an indicator of future results Source: www.tradingview.com The weekly chart above shows gold (XAUUSD) from the beginning of 2019. The indicator below is the correlation coefficient between the precious metal and the US10Y. For most of this period the correlation has been negative (green rectangle). A reason for this is that bonds and gold are both considered safe-havens. During this period the yield on the US10Y…

  • OPEC+ Meeting Not Expected To Deviate From Supply Schedule

    Oil is up around 60% for 2021 and has a current price of approximately $82/barrel (Brent). OPEC+ is due to meet today and market participants don't expect a change to the current output schedules. This despite President Biden and allies encouraging producers with spare capacity to increase production. There is general alarm around inflation and the current call of "transitory" is debated. As such, a cap on oil prices will…

  • Gold EMAs Are Bearish Ahead of Fed Statement

    Past performance is not an indicator of future results Gold has had a very ordinary 2021. The precious metal has been drifting sideways for most of the year (blue rectangle). We have added a triple moving average to get a sense of gold's directional bias. This is inherently risky because moving averages are trend-following indicators. This means that they work very well during trending moves but give constant whipsaw signals…

  • Energy Prices Continue to Rise

    Oil prices continued their rise yesterday, amid forecasts that climbing natural gas prices may drive a switch to oil. Oil prices have risen more than 15% since early September, largely due to the surging demand for natural gas and the search for cheaper substitutes. Natural Gas prices in Europe and Asia are at record highs, while U.S. prices have doubled this year. But what has been driving energy prices up?…

  • What is Behind Copper’s Rising Price?

    Copper prices have skyrocketed in the past year and recently hit record highs in the latter half of May 2021. Prices have been driven up by high demand of various industries around the world, as the post-Covid recovery takes off. What makes copper valuable? Primarily it is a metal with excellent electricity conducting properties, it's other properties include: • Excellent heat conductivity. • Good corrosion resistance. • Good biofouling resistance.…

  • How Does COVID-19 Impact Gold Prices?

    During periods of crisis, gold has proven to be a time-honored safe-haven asset. Scarcity and built-in utility have made the yellow metal a sought after commodity throughout recorded human history. Whether in physical or paper form, gold bullion is the world's go to financial hedge against uncertainty. Gold's validity as a financial safe-haven underwent a formidable test during the novel coronavirus (COVID-19) pandemic of 2020. Traders, investors, central banks and…

  • Top South African Gold Mining Companies

    Over the course of human history, gold (XAU/USD) has played a wide range of tangible and financial roles. Whether as a means of exchange, artisan medium, or store of wealth, acquiring bullion piques the interest of people from all walks of life. South Africa (SA) is among international leaders in gold exploration and production. Surveys from Thomson Reuters show SA to rank 8th globally in production of bullion, just ahead…

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