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Balancing economic data with the broad commodities pullback

Cory댊
August 9, 2021

Ed Moya, Senior Market Analyst at OANDA joins us to share a more generalist view of how the recent economic data out of the US and around the world is driving commodities, mostly precious metals and base metals.

Click here to visit the OANDA website and read over Ed’s daily note.

Discussion
25 Comments
    Aug 09, 2021 09:08 PM

    ” CRISIS AT THE IMF ” I have never seen Lynette Zang so angery . This is a much watch , IMO ….41 minutes . …. Do you own PHY. gold & Silver ?.
    https://www.youtube.com/watch?v=Sl7QX6Y6N1c

      Aug 09, 2021 09:40 PM

      Thanks Irish……… New game……

        Aug 09, 2021 09:58 PM

        Orchestrated manipulation…

          Aug 09, 2021 09:22 PM

          It’s manipulation and nothing new. Who would sell a huge amount of gold during the most thinly traded hours of the entire week and expect to get the best possible price?

            Aug 09, 2021 09:29 PM

            Still, the fall makes technical sense based on the action of the last 2+ months. At least now there are several reasons this low to hold. It hit multiple supports including MA, Fibonacci, pitchfork, Bollinger Band, and even reaching the ABC correction target is a support of sorts.

            https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=2&mn=9&dy=11&id=p80512880264&a=1006056230

            Aug 09, 2021 09:48 PM

            It was also a nice retest of the March double-bottom lows from $1677 and $1673, and at least on the temporary swan dive down, that support held steady.

            Aug 09, 2021 09:07 PM

            No argument that it can make technical sense…fundamentally it never makes sense. If we are right that gold/silver and other metals are money as well as necessary commodities, then we can also assume the manipulators want them also. The worse things get by design, the more valuable the metals become. The more they destroy fiat currencies, the more valuable metals become. The more the paper systems weaken, the more they want to get the metals cheap. But, they are criminals. Criminals don’t buy in markets. They steal in protected environments…like deregulated banking systems. Therefore, they design the theft system to take what it others without expending their own wealth…paper trading mechanisms (derivatives of real things) to acquire things of real value at the expense of true owners.

            Aug 09, 2021 09:24 PM

            Since I don’t like retests of double bottoms, I prefer to see it as another test of the previous all-time high annual close (1674 in 2012).

            Aug 09, 2021 09:46 PM

            +1674 Sounds good. That’s a nice retest of that annual high as well. 🙂

        Aug 10, 2021 10:58 AM

        Ok, same old game , with a new added twist…. Maybe we should call it the “twisties” SDR…
        for the new gymnastic minded… lol……. 🙂

          Aug 10, 2021 10:55 PM

          Yes, and we can change your handle to signify OOTB (Original Oliver Twist Brigade).

    Aug 09, 2021 09:31 PM

    Brixton now has less paper overhanging the market since Eric Sprott allowed 11.125 million warrants expire unexercised.
    https://finance.yahoo.com/news/eric-sprott-announces-holdings-brixton-215200205.html

      Aug 10, 2021 10:19 AM

      So, what is your take…. on his actions….. wondering minds want to know… 🙂

        Aug 10, 2021 10:43 AM

        Sprott’s inaction with those warrants makes perfect sense since the exercise price was 25 cents. The good thing about it for shareholders is that there are now a lot fewer warrants for the market (buyers in particular) to work through when price goes to and through that level. In other words, there are almost 19 million (Sprott’s 11m + almost 8m more) fewer shares to be created and sold into the next significant rise. So, the short to medium term could be much better that it would’ve been otherwise.

          Aug 10, 2021 10:44 AM

          “Than” it would’ve been… 🤦🏻‍♂️

    Aug 09, 2021 09:31 PM

    I was reflecting today about the what the sentiment is like in the PMs and even the Commodities sector at large with many of the market pundits we talk with, with people posting on multiple chat forums and on Twitter or Youtube, etc….

    Just for a moment go back to the mindset and mood investors were in when Gold was in the $1050-$1250 range, or when Silver was in the $13-$16 range, or when Copper was in the $2 – $3 range, or when Oil was trapped in the mid $20s low $30s, etc….

    Now look at today’s prices in the context of where investors hoped and believed they could get to:

    In overnight trading Gold @ $1736, Silver @ $23.63, Copper @ $4.31, and Oil @ $66.91.

    Those are all very solid prices for the producers of Gold, Silver, Copper, or Oil, so it is amazing how hard the producers have been sold off in this environment, and how depressed so many investors are with current prices.

    A very strange environment…

      Aug 09, 2021 09:45 PM

      Can you imagine time traveling back to 2015 or 2018 and reporting to company executives where metals prices are today and that most investors would be down in the dumps about it?

        Aug 10, 2021 10:42 AM

        Silver just stuck in a rut……….
        Platinum…….. what gives……. $980…… gift from heaven… 🙂

          Aug 10, 2021 10:15 AM

          Metals…….. are not keeping up with INFLATION…… me think…. such for the cause of concern and disappointment….. JMO….. 🙂
          US DEBT clock……. paper and gold…. gold should be $19,000 … 🙂

    Aug 09, 2021 09:57 PM

    Some Older Americans Turn To Crypto To Make Up For Retirement Shortfalls

    Stephanie Asymkos – July 13, 2021

    “As retirement age approaches for baby boomers and Gen Xers, the reality of under-saving is setting in and some are looking toward cryptocurrency to make up for lost time, according to data from a platform that allows crypto investments for retirement accounts.”

    “Half of Bitcoin IRA’s user base is 55 and up, according to data exclusively shared with Yahoo Money, while over three-quarters of its 100,000 users are over age 45 — upending the stereotype that digital currency is a young person’s game.”

    Given crypto’s ability to capture headlines as prices boom and bust, these investors are looking for “sizzle and excitement” that old guard investment vehicles like 401(k)s, IRAs, and stocks don’t offer, Kline said. They also want a more hands-on approach with their investments, instead of simply selecting mutual funds or index funds from an employer’s retirement plan menu.

    “They’re looking for something a little bit more individualistic,” he said. “They’re looking to have a little bit more control and do different things.”

    https://money.yahoo.com/crypto-to-make-up-for-retirement-shortfalls-225828556.html

      Aug 09, 2021 09:58 PM

      What could possibly go wrong… ?

      Aug 10, 2021 10:14 AM

      If people are worried about their retirement finances all they have to do is take the Fauci Flu jabs and boosters and they’ll be dead in 2 or 3 years. Their worries will be over.

        Aug 10, 2021 10:19 AM

        Covid vaccines have now killed more people than the atomic bombing of Hiroshima

        When the US government dropped an atomic bomb on a mostly civilian population of women and children in World War II, it proved that the United States government is willing to commit mass killings of targeted ethnic groups to achieve its strategic goals.

        The internment of Japanese Americans in U.S.-based concentration camps is yet another crime against people of Japanese descent, and it proves again that the United States government is ready and willing to throw its own citizens into concentration camps in order to achieve its own strategic aims.

          Aug 10, 2021 10:20 AM

          by………. Brigtheon…….. today…….. not me saying… 🙂