Precious Metals
Oil on the move, gold eyes CPI
Bouncing back Oil prices are advancing again on Tuesday, with Brent approaching $80 a barrel and WTI nearing $75. This comes amid further relaxations of…
Bouncing back
Oil prices are advancing again on Tuesday, with Brent approaching $80 a barrel and WTI nearing $75. This comes amid further relaxations of Covid curbs in China, the threat of lower Russian output in response to the G7 price cap, an outage on the Keystone pipeline in the US, and the promise of US purchases around $70.
That’s a lot of supportive factors for the price even in what appears to be an environment tilted towards oversupply. Suddenly there appears more upside risk than downside which could keep prices slipping below $70 for the foreseeable future.
Awaiting CPI data
Gold remains in consolidation ahead of the CPI data. Last month’s release helped drive gold prices higher on the back of a promising Fed statement and jobs report. Of course, recent data hasn’t been quite so bullish for the yellow metal but a weaker inflation reading today could get it back on track ahead of tomorrow’s Fed decision. The key level to the upside remains $1,810, with gold seeing some support around $1,780.
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…