|Day's Range||1,302.10 - 1,307.70|
Chile's Supreme Court on Monday cancelled a lower court order to close the Chilean side of Barrick Gold Corp's stalled Pasqua Lama project, delaying the resolution to a problem that has dogged the Canadian company for years. The gold and silver project, which straddles the mineral-rich El Indio belt on the border of Argentina and Chile in the Andes mountains, has been on hold since 2013 due to environmental concerns, political opposition and labor issues, and costs have surged to $8.5 billion. The Supreme Court annuled the October decision by the environmental court on procedural grounds and remanded the case back to the court for review by a different panel of judges, which could take several months, Barrick said in a regulatory statement.
Crude oil markets rally to kick off the week on Monday, as we are breaking above the 200 day EMA in both grades we follow here at FX Empire. This is obviously a very bullish sign.
The Brent crude prices are not moving very much early this week, with the black gold consolidating near $67.25. Previously, it tested the local high at $68.14. The fundamentals are meanwhile signaling a bullish scenario.
Natural gas markets got a boost to kick off the week, gaining roughly 4 cents by the time the open pit session started. However, we still have a significant amount of resistance above, and as a result it’s very likely that this rally will fail as well.
Gold markets continue to go sideways overall, as we hang about a large come around, psychologically significant number. Beyond that, we have a significant exponential moving average at this area as well.
The Euro rallied significantly to kick off the week, breaking above a couple of long wicks on the daily chart from last week. This of course is a good sign, and it looks as if we are going to continue to the next resistance level.
In this daily bar chart chart of SA, below, we can see that prices bottomed in April/May and they've established a pattern of higher lows since then. In this first weekly bar chart of SA, below, we can see the price action going back to 2014. In this second weekly bar chart of SA, below, we can see the price action going back to 2004.
Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the short-term 50% level at .7105.
DAX index likely to trade range bound on mixed cues influenced by headlines which has inspired cautious investor sentiment.
The Fed’s interest rate and monetary policy decisions on Wednesday as well as the Federal Open Market Committee’s new economic projections will probably exert the most influence on gold prices this week.
Based on last week’s price action, the direction of the May WTI crude oil futures contract this week is likely to be determined by trader reaction to the major 50% level at $59.63.
Every investor on earth makes bad calls sometimes. But you want to avoid the really big losses like the plague. So take a moment to sympathize with the long termRead More...
The Pound was the leader of the pack, with a vote against a no-deal departure and a Brexit extension providing much-needed support.
* The Toronto Stock Exchange's ?S&P/TSX ?rose?52.80 points, or 0.33 percent, to?16,140.35. * Leading the index were?Aurora Cannabis Inc?,?up?7.6 percent,?Fortuna Silver Mines Inc?, up?7.5 percent, and?Knight Therapeutics Inc?,?higher by?6.1 percent. * Lagging shares were?Westshore Terminals Investment Corp?,?down?12.0 percent,?Precision Drilling Corp , down?5.0 percent, and?Intertape Polymer Group Inc ,?lower by?4.4 percent. * On the TSX?123 issues rose and?110 fell as?a 1.1-to-1 ratio favored advancers.?There?were 14 new highs?and 3 new lows, with total volume of?635.5 million shares. ...
Gold futures settled back above $1,300 an ounce Friday to post a modest gain of 0.3% for the week, with the haven metal finding support following mass shootings in New Zealand and from uncertainty surrounding the U.K. exit from the European Union. April gold climbed by $7.80, or 0.6%, to settle at $1,302.90 an ounce on Comex. Prices finished above $1,309 on Wednesday for the highest close month to date.
Silver markets went back and forth during the course of the week, using the lot of real estate in the process. The markets formed a nice-looking hammer last week, it looks as if we are trying to show signs of stability here.
The Gold markets went back and forth during the course of the week, breaking above the $1300 level. What’s most important about this is that we have broken above the hammer from the previous week.
Natural gas markets fell during the day on Friday and what has been a somewhat constructive week in general. We continue to consolidate overall which by natural gas standards is relatively positive.
Gold markets rallied during the day on Friday to recapture the $1300 level, an area that of course causes a lot of attention in a market that likes round numbers.
Which Gold Mining Stocks Could Have Upside Potential in 2019?(Continued from Prior Part)All-in sustaining costs and?gold minersAISC (all-in sustaining costs)?is an encompassing measure?that helps investors compare performances of gold miners. It
MUMBAI/BENGALURU (Reuters) - Physical gold demand improved this week in India as a correction in local prices attracted buyers, particularly with the wedding season underway, while premiums in China rose on steady buying in the world's leading consumer.