Trading NRG

Gold and Silver Prices – Daily Outlook for May 21

Lior — Tue, 21 May 2013 07:33:04 +0000

The bullion market has changed direction and rallied on the first day of the week after gold and silver rate plummeted last week. Will gold and silver continue to rally? The minutes of the recent RBA monetary meeting came out and showed the factors behind the latest rate cut. Tomorrow the Fed will publish the minutes of the April/May meeting. Will the Fed surprise with talks about pulling down the QE program or will it keep the asset purchase program unchanged. On today’s agenda: GB CPI and Bank of Japan Rate Decision, Outlook and Monetary Policy Statement. Here is a short outlook for precious metals for Tuesday, May 21st: Precious Metals – May Update On Monday, the price of gold declined by 1.42% to $1,384.1; Silver also increased by 1.02% to $22.57. During May, gold tumbled down by 5.98%; silver, by 6.52%. Moreover, during last week, the SPDR Gold Shares (GLD) also fell by 6.11% and reached by last week to 131.07. Shares of Goldcorp Inc (GG) plummeted by 13.21% during last week. In the chart below are the normalized rates of gold and silver for 2013 (normalized to 100 as of April 30th). The prices of gold and silver [...]

Gold and Silver Prices – Daily Outlook for May 20

Lior — Mon, 20 May 2013 21:02:14 +0000

Gold and silver prices tumbled down again during last week. Will gold and silver continue to trade down this week? As I have stated in the recent precious metals weekly outlook, several publications, events and speeches will take place during the forthcoming week that may affect bullion prices. These items include: minutes of the recent FOMC meeting, Bernanke’s testimony in Congress, U.S new and existing home sales, U.S core durable goods, China and EU flash manufacturing PMI surveys, Canada’s retail sales, Bank of Japan’s monetary policy meeting, and U.S jobless claims. On Monday’s agenda: Minutes of Reserve Bank of Australia monetary policy meeting. Here is a short outlook for precious metals for Monday, May 20th: Precious Metals – May Update On Friday, the price of gold declined by 1.6% to $1,364.7; Silver also decreased by 1.36% to $22.34. During last week, gold tumbled down by 5%; silver, by 5.5%. Moreover, during last week, the SPDR Gold Shares (GLD) also fell by 6.11% and reached by May 17th 131.07. Shares of Goldcorp Inc (GG) plummeted by 13.21% during last week. Agenda for Monday, May 20th Minutes of Reserve Bank of Australia Monetary Policy Meeting: The minutes of the latest monetary policy [...]

Gold and Silver Prices Outlook for May 20-24

Lior — Sun, 19 May 2013 05:34:54 +0000

Gold and silver continued to trade down during last week. Their sharp fall coincided with the depreciation of leading “risk related currencies” such as Euro and Aussie dollar against the USD. Moreover, the ongoing rally of U.S equity markets is also contributing the decline in demand for bullion as an investment. Last week, U.S retail sales edged up by 0.1% during April. On the other hand, Philly Fed index fell in May; housing starts sharply fell by 16.5% in April; jobless claims sharply increased by 32k to reach 360k; the PPI fell again by 0.7% during last month. Will gold and silver continue to trade down this forthcoming week? Here is a short outlook for May 20th to May 24th; this includes a fundamental analysis of the main reports, publications and speeches that may affect bullion markets. These include: minutes of the FOMC meeting, Bernanke’s testimony, U.S core durable goods, ECB President’s speech, China’s manufacturing PMI, U.S existing home sales, German climate survey, Canada’s retail sales, U.S new home sales, and U.S. jobless claims. The price of gold sharply fell down during the previous week by 5%; moreover, during last week, the average weekly price reached $1,401.32 /t. oz [...]

Weekly Outlook of Financial Markets for May 20-24

Lior — Sun, 19 May 2013 04:41:00 +0000

During the previous weeks the leading “risk related currencies” such as Euro and Aussie dollar tumble down against the USD; commodities prices including gold, silver and oil fell while equity markets rallied. This upcoming week the market volatility might pick up considering the many news items and events that could stir up the markets. Next week several reports, speeches and publications may affect the financial markets. These include: minutes of the FOMC meeting, Bernanke’s testimony, U.S core durable goods, ECB President’s speech, China’s manufacturing PMI, U.S existing home sales, EU flash manufacturing PMI, UK GDP for Q1, Bank of Japan’s monetary policy meeting, German climate survey, Canada’s retail sales, U.S new home sales, and U.S. jobless claims. Here is an economic outlook for the week of May 20th to May 24th regarding the U.S, Euro Area, China, Japan, Canada, Australia, and Great Britain. (All times GMT): Monday, May 20th 00:30 – Minutes of Reserve Bank of Australia’s Monetary Policy Meeting: The minutes of the recent monetary policy meeting of the Reserve Bank of Australia may provide some insight behind the decision of board to cut the basic interest rate by 0.25pp to 2.75%; the minutes of this meeting may [...]

Oil Weekly Outlook for May 20-24

Lior — Sat, 18 May 2013 21:12:17 +0000

The rates of crude oil (both WTI and Brent) remained virtually unchanged during last week: WTI inched down by 0.02%; Brent oil slipped by 0.18%. As a result, the difference between the Brent oil and WTI remained nearly flat; the premium of Brent over WTI ranged between $7 and $8. According to the recent EIA update, oil stockpiles increased by 2.6Mb. Moreover, imports, refinery inputs and production increased during last week. The rise in oil supply may pull down the prices of oil. IEA’s recent monthly update showed the non-OPEC supply increased to 54.5 mb/d for 2013. Will oil further decline next week? In the forthcoming week, several publications may affect the oil market. These items include: China’s manufacturing PMI, U.S core durable goods sales, minutes of FOMC meeting, and EIA oil weekly update. Here is a weekly outlook and analysis for the crude oil market for May 20th to May 24th: Oil Prices – May During last week, crude oil price (WTI) slightly fell by 0.02% and reached by Friday $96.02/b; moreover, Brent oil slightly decreased by 0.18% to $103.72/b; during May, WTI oil increased by 2.74%; Brent oil, by 1.32%. In the chart below are the developments in [...]

Gold And Silver | Weekly Recap for May 13-17

Lior — Fri, 17 May 2013 21:37:07 +0000

Despite the less than impressive financial news regarding the progress of the U.S economy that came out during last week the equity market continued to rally, while gold and silver prices declined. Last week, the U.S retail sales inched up by 0.1% during April. On the other hand, Philly Fed index decline in May; housing starts sharply fell by 16.5% in April; jobless claims sharply increased by 32k to reach 360k; the PPI fell again by 0.7% during last month. In the currencies markets, during the previous week, the Euro and Aussie dollar tumbled down against the USD by 1.15% and 2.94%, respectively. Their sharp fall might have partly contributed to the plunge in precious metals prices. Here is a short recap of the developments in precious metals prices between May 13th and May 17th: Precious Metals Recap: Gold price tumbled down during last week by 5%; moreover, during the week, the average weekly price reached $1,401.32 /t. oz which was 3.96% below last week’s average rate of $1,459.14 /t. oz. Gold ended the week at $1,364.7 /t. oz. Silver, much like gold, sharply fell during last week by 5.5%; further, the average weekly rate decreased by 3.76% to [...]

Natural Gas – Weekly Recap May 13-17

Lior — Fri, 17 May 2013 21:01:45 +0000

The future price of natural gas (short term delivery) zigzagged with an unclear trend during last week only to rally on a weekly scale. By the end of the week the Henry Hub future (short term delivery) rose by 3.71%. According to the recent EIA natural gas storage report, the natural gas storage increased at a faster pace than the average five years did during the same week: The NG storage injection was 99 Bcf. In comparison, during the same week last year the injection was 61 Bcf. Here is a short analysis of the recent changes in natural gas market for the week ending on May 17th 2013: Natural Gas Market – May Report The Nymex Henry Hub Future (short term delivery) rose during last week by 3.71% and reached by Friday $4.06/mmbtu; its average daily change was 0.76%; its weekly average price was also 1.03% above last week’s average price. The gap between the NG future and spot prices – future minus spot – was mostly in Contango during the previous week. Natural Gas Charts The following charts present the developments in Nat Gas future (Nymex Henry Hub) in $/mmbtu between May 13-17. As seen in the chart [...]

Gold and Silver Prices – Daily Outlook for May 17

Lior — Fri, 17 May 2013 09:28:23 +0000

The prices of gold and silver fell again yesterday. For gold this was the sixth consecutive business day in which it has declined. For silver it was the third straight day. Their decline coincided with the devaluation of the Euro and Aussie dollar against the USD. Yesterday, several U.S reports were published: The Philly Fed index for May declined; the consumer price index declined again by 0.4% in April; jobless claims rose by 32k to 360k; housing starts tumbled down by 16.5% in April compared to March. These news items weren’t positive and may have contributed to the fall of equity markets yesterday. Will gold and silver further decline today? On today’s agenda: Canada’s core CPI and UoM Consumer Sentiment. Tomorrow Bernanke will give a speech. Here is a short outlook for precious metals for Friday, May 17th: Precious Metals – May Update On Thursday, gold fell again by 0.67% to $1,386.9; Silver inched down by 0.01% to $22.65. During the May, gold declined by 5.79%; silver, by 6.19%. In the chart below are the normalized rate of gold and silver for 2013 (normalized to 100 as of April 30th). The prices of gold and silver have fallen in recent [...]

Gold and Silver Prices – Daily Outlook for May 16

Lior — Thu, 16 May 2013 07:19:03 +0000

Gold and silver tumbled down again during yesterday. Their plunge coincided with the devaluation of the Euro against the USD. Moreover, the ongoing recovery of the equities markets as seen with the rally of the S&P500 index and other indexes may have contributed to the decline in demand for precious metals. Yesterday, several U.S reports came out: PPI declined in April by 0.7% and the core PPI inched up by 0.1%; industrial production declined by 0.5%. These news items didn’t seem to curb the rally of stock markets. In Europe, Germany’s economy only grew by 0.1% in Q1 2013. This was lower than many had anticipated. This news may further pull down the Euro and commodities prices. In GB, Bank of England raised its growth forecast. Will gold and silver further fall today? On today’s agenda: Euro Area CPI, U.S. Housing Starts and Building Permits, U.S Core Consumer Price Index, U.S. Jobless Claims, and Philly Fed Manufacturing Index. Here is a short outlook for precious metals for Thursday, May 16th: Precious Metals – May Update On Wednesday, gold tumbled down again by 1.99% to $1,396.2; Silver also plummeted by 3.05% to $22.65. During the May, gold declined by 5.16%; silver, by [...]

Oil and Natural Gas Rallied on Wednesday – Recap May 15th

Lior — Wed, 15 May 2013 21:26:38 +0000

Major commodities were traded again in a mixed trend on the third business day of the week: Brent oil and WTI oil bounced back on Wednesday; natural gas Henry Hub future (short term delivery) rallied again yesterday; silver and gold prices plunged on Wednesday; the Euro also slipped against the USD on Wednesday. On the other hand, several currencies such as the Aussie dollar appreciated against the U.S dollar. Here is a summary of the daily developments of precious metals and energy commodities as of May 15th, 2013: Forex and Precious Metals Markets: On Wednesday, gold plummeted by 1.99% to $1,396; silver also decreased by 3.05% to $22.65. During the month, gold fell by 5.16%; silver, by 6.18%. On Wednesday, the Euro/USD slipped by 0.26% to 1.2887; conversely, the U.S Dollar also depreciated against several currencies such as Aussie dollar by 0.09%. Energy Commodities: WTI oil price rallied by 0.10% to $94.30 per barrel; Brent oil increased by 1.05% to $103.68 per barrel; Thus, the difference between Brent and WTI expanded to $9.38/bbl. During the month, WTI increased by 0.9%; Brent oil, by 1.28%. Finally, the Henry Hub future (short term delivery) increased again yesterday by 1.14% and settled at [...]