The USD and Backwardation.

(Chart from SharpCharts - Click on image to enlarge) The USD has had a great run, but now it looks very toppy to me ... . Backwardation in basic commodities happens frequently, but this is the first time since 1999, briefly ... of Gold is higher than the nearest futures contract. Some would define “backwardation” as the cash price [more...]

Date: 2008-12-09 04:09:13

Blog posts (9) | Videos (3)
 

Give me the physical, not the paper

#fullpost{display:inline;}Ambrose Evans Pritchard over at the Telegraph has filed this report (hat tip Domus) ... their stockbroker to buy shares of one of the many gold ETFs or some commodity futures contract ... ," he said, referring to exchange trade funds listed in London, New York, and other bourses [more...]

Date: 2009-01-09 19:44:00

No fireworks in precious metals markets

Depending upon which closing price you look at, gold either ended the Thanksgiving holiday flat or up a percent or so - not what many were expecting, but not bad. According to Jon Nadler at Kitco, most of the holders of December futures contracts who did show up at work today rolled them over to the February contract. I'll be on a panel with Jon [more...]

Date: 2008-11-28 20:43:58

The stage is set for an exciting finale

#fullpost{display:inline;}With the end of the year rapidly approaching and nearly every asset class now sporting double-digit declines in 2008, the dollar vs. gold competition is heating up with the latter clearly having the momentum (via ... for the January futures contract that expired at about $33 a barrel last week (you can't give [more...]

Date: 2008-12-20 18:29:00

Weekly Futures Positions Review - December 28, 2008

Top posts from the past week:Lean Hog Prices Poised to Climb in 2009Why eBay is the Best Indicator of Gold's Fair ValueOur coverage of Marc Faber's ... of our trades and positions from the previous week:Continued to hold one cocoa futures contract - up slightly on the week. Looking to add to this position on higher high's.Continued to hold one [more...]

Date: 2008-12-28 23:35:00

Oil Prices Fell to Close to $US40 as Gold Price Rises

Oil prices fell to close to $US40 on Friday after a highly volatile trading week as new US data showed rising unemployment and deepening recession in the world’s biggest oil consuming nation. The benchmark contract, light sweet crude ... futures added 0.0805 cents to $US1.5595 a pound. [more...]

Date: 2009-01-12 01:09:58

Selling decimates the markets; gold rallies, T-bill rates dive

Calamity rules in markets today after the House, in a shocker, voted down the financial-system bailout bill ... demand to dry up if the global economy contracts sharply. Crude oil futures are down $9.26 to $97.63 a barrel. The Reuters/Jefferies CRB index of 19 commodities is down 5%. The only major commodity [more...]

Date: 2008-09-29 19:36:55

Technical Update - Gap Fill

Last night we said that NR7 price/volume contraction implied price expansion, but direction was not clear ... between the trendline. However, after hours S&P futures are ripping lower, the trendline is broken ... as energy, gold, and commodities rallied on the open. USD is now in a support zone and near [more...]

Date: 2008-12-12 03:49:00

Technical Update - Gap Fill

Last night we said that NR7 price/volume contraction implied price expansion, but direction was not clear ... between the trendline. However, after hours S&P futures are ripping lower, the trendline ... fell sharply as energy, gold, and commodities rallied on the open. USD is now in a support zone [more...]

Date: 2008-12-12 04:22:10

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