Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Daily Resources Overview

 
Gold and silver prices are steady to slightly lower in early-afternoon U.S. trading Wednesday. Some short covering in the futures market and some perceived bargain buying in the cash have limited the selling interest in both markets today. However, the gold and silver bulls are still in technical trouble amid price downtrends in place on the daily bar charts. Gold prices dropped to a nearly four-month low again today. June gold futures were last down $1.40 an ounce at $1,275.80. May Comex silver was last up $0.005 at $14.92 an ounce. Asian and European stock indexes were mostly higher overnight. U.S. stock indexes are mixed at midday today and near this week’s six-month highs. The U.S. indexes are closing in on their record highs scored last fall. China’s gross domestic product report came out Wednesday and showed slightly better-than-expected growth of 6.4% in the first quarter, year-on-year. Stronger industrial production and retail sales were cited as boosting GDP. Most were expecting upbeat numbers just north of 6% annual GDP growth for the world’s second-largest economy. This report was a bit friendly for the metals markets, as it implies better demand for raw commodities coming from the world’s largest raw commodity importer. An important change in market psychology has occurred just the past few weeks. Government bond yields in the world’s major economies are on the rise, after seeing their yields decline the first two months of the year. This is due in part to little risk aversion in the marketplace that is seeing monies flow into stock markets, which in turn prompts bond yields to rise in order to attract investor buying interest. The key outside markets today find the U.S. dollar index near steady. Meantime, Nymex crude oil prices are also near steady and trading around $64.00 a barrel.
 
18/04/2019 10:00:00 AM

Back to top