|Day Low/High||70.34 / 71.86|
|52 Wk Low/High||29.78 / 74.41|
Washington kerfuffles should bode well for gold and other 'portfolio protection' assets.
Such things used to be shrugged off as non-events, but they're becoming cause for concern.
Meanwhile, warmer weather in Northeast and Midwest isn't helping natural gas prices.
European stocks traded mixed Tuesday, with futures prices pointing to an uncertain open on Wall Street, as investors continued to focus on mounting regional political risks amid stronger-than-expected economic data
BHP Billiton posted stronger-than-expected first-half earnings Tuesday and boosted its interim divided thanks to a surge in global commodity prices and an optimistic outlook for 2017.
And be aware that the trade is already long in the tooth.
Political risk both domestically and abroad is a contributing factor.
Base metals are giving back some of their early week gains, as oil prices rise to nearly $54.
Survey says: Maybe business is getting better.
With hindsight, I hope you bought a month ago when I recommended it.
Gold is trading an above-average 20-25 million oz. per day so far this week.
A trade war can be as significant to gold prices as one with real guns.
A 10% rise in U.S. copper demand can be offset by a 1% drop in Chinese copper demand.
We like to see broad participation among stocks that have been latent for years.
There's no reason to think any resolution on the table will offset the current supply glut.
Assuming a Clinton win, she may be handicapped, by both federal investigators and Republicans.
But it's probably premature to buy crude oil on the current dip.
It's just as dumb to short energy companies as it is to short mining companies.
Base metals are trading in a narrow range as investors eye Chinese production.
As the Fed is the monetary policymaker of the globe, this slowdown may pause Fed action.
This is what's behind the fall of such magnitude that we are seeing.
Oil is the biggest beneficiary of Fed inaction and the subsequent dollar weakness.
Copper and crude have been a good measure of economic activity, but both are at historically low levels.
Look for a relatively shallow pullback in the weeks ahead.
The Lucky Country has now gone a quarter of a century without a recession. A Teflon-coated economy indeed.