Research

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Before making any investment decision, you should consult your adviser.

Daily Resources Overview

 
Gold and silver prices are lower in early-afternoon U.S. trading Tuesday. Silver prices hit a six-month low today. A solidly higher U.S. dollar index and stable U.S. stocks were in part to blame for selling pressure in the precious metals markets today. Still, safe-haven metals bulls are watching some elements that are not quite on the front burner of the marketplace but may be soon. August gold futures were last down $6.50 an ounce at $1,282.70. July Comex silver prices were last down $0.24 at $14.315 an ounce. There are several matters on the minds of traders and investors following the long U.S. holiday weekend. The U.S.-China trade war continues with no agreement in sight and both countries appearing to dig in their heels as a trade agreement anytime soon appears unlikely. European elections last weekend produced gains in the populist parties in the U.K., while Greece’s prime minister said he will call for a general election in an effort to lower taxes. It seems that every couple of years, during the summertime, that political turmoil in the European Union moves closer to the front burner of the world marketplace. President Trump downplayed recent test missile launches from North Korea, and has also been quieter on the U.S.-Iran stare down. However, these two issues could quickly heat up. The key “outside markets” today see the U.S. dollar index trading solidly higher, while Nymex crude oil prices are firmer and trading just above $59.00 a barrel. The greenback has been strong recently and the USDX is not far below its recent two-year high. Meantime, crude oil bulls are working to stabilize prices after last week’s steep downdraft that shaved about $6.00 off the price of a barrel of crude
 
29/05/2019 10:00:00 AM

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