Research

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

Daily Resources Overview

 

Goldprices are strongly up and hit a 10-month high in early-afternoon U.S. tradingTuesday. Technical buying, some geopolitical uncertaintiesand ideas of easier monetary policies being put in place by the world’s majorcentral banks are boosting the precious metals markets. A drop in the U.S. dollarindex today, after holding mild gains overnight, is also working infavour the metals market bulls today. There are no early chart clues gold’spush higher will end anytime soon. Charts suggest the path of least resistancefor prices will remain sideways to higher for at least the near term. April goldfutures were last up $21.90 an ounce at $1,344.90. March Comexsilver was last up $0.222 at $15.965 an ounce.

The Federal Reserve’s FOMC minutes aredue out Wednesday afternoon and will be closely scrutinized by traders andinvestors. The recent change in Fed policy stance to one of more accommodativemonetary conditions has been a significantly bullish underlying factor for themetals markets. Traders and investors are not quite as upbeat early this weekas last week, even though there are no major fresh news developments in themarkets.

The ongoing U.S.-China trade talkstaking place this week in Washington, D.C. will be closely monitored by theworld marketplace. Ideas are mixed on a final deal being reached by theU.S.-imposed early-March deadline. Maybe the marketplace is leaning just a bitmore negative on a final trade deal being reached by the world’s two largesteconomies by early March.

The U.K. Brexit saga continues to playout, with no deal in place as the late-March deadline approaches for thatcountry to leave the European Union. That has European traders somewhat moreunnerved at present. Slowing Chinese economic growth is also worrisome for theworld marketplace.

The other key outside market today sees Nymex crude oilprices higher and at a three-month high and trading just above $56.00 a barrel.Prices are in a good uptrend from the Dec. 24 low of just above $42.50 abarrel.
 
20/02/2019 9:00:00 AM

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