Precious Metals
Oil dips on China, gold eyes Powell
Oil slips on modest Chinese growth target It’s not been a great day for commodities as a whole and that includes oil, which is down a little over 1%…
Oil slips on modest Chinese growth target
It’s not been a great day for commodities as a whole and that includes oil, which is down a little over 1% on the day. One big upside risk for oil prices this year was a strong, stimulus-driven, rebound in China and it would appear that isn’t going to happen. That said, the growth target is probably a minimum aim and one that could easily be surpassed but it does make stimulus less likely.
Oil prices are a little lower on the day but those losses pale in comparison to the rally last week. They’re still not too far from the upper end of their range of the last few months, although the news does make a breakout to the upside that much more challenging.
Stalling ahead of Powell’s testimony
Gold is edging lower today after a strong rebound last week. The yellow metal is struggling around $1,860 which was always likely to be the first big test above. A move above here could see $1,900 back in focus, although that may well depend on how the two-day testimony in Congress unfolds and, of course, Friday’s jobs report. Another red-hot report could see gold quickly lose any bullish momentum and potentially $1,780-$1,800 come under real strain.
Canadian Silver Co. Will See Big Changes in 2024
Source: Michael Ballanger 12/22/2023
Michael Ballanger of GGM Advisory Inc. takes a look at the current state of the market and shares on stock…
EGR options out Urban Berry project in Quebec to Harvest Gold – Richard Mills
2023.12.23
EGR Exploration Ltd. (TSXV: EGR) has moved from owner to shareholder at its Urban Berry project in Quebec, this week announcing it is optioning…
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
A weird week of macro data – strong jobless claims but…