After an eight-trading day run gaining 5%, gold has finally taken a breather. As the U.S. dollar dropped from $98 to $96.50, gold volatility jumped above 12% and prices enjoyed a nearly $70 rise to re-test gold’s February 20 price high near $1,350.
After an eight-trading day run gaining 5%, gold has finally taken a breather. As the U.S. dollar dropped from $98 to $96.50, gold volatility jumped above 12% and prices enjoyed a nearly $70 rise to re-test gold’s February 20 price high near $1,350.
Many of the current news headlines tie oil’s recent decline to lower expectations on world growth outlooks. WTI Crude Oil has dropped 23% from its $66.60 on April 23rd to a low today of $50.59.
Except for January, gold volatility has been almost non-existent in 2019. Price action has been active, with an $80 price range this year (6% high to low). It’s easy to forgo looking at gold when equities have been so active, but the charts are starting to show some interesting set-ups.
More bearish news for corn today as the USDA released its Crop Production report. Ending and world stocks reported much higher numbers than estimates...
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