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…
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…
The prices of gold and silver continue to seek direction and they moved from gains to losses throughout last week: Despite the unclear trend the sharp fall in bullion prices on Friday led gold and silver to decline by 1.88% and 1.46%, respectively, on a weekly scale. The main event of last week was the Reserve Bank of Australia to cut it cash rate by 0.25pp to 2.75%. This news…
Gold and silver prices moved in an unclear trend throughout the week: Despite the high volatility of precious metals and unclear trend, both gold and silver rose by the end of the week by 0.73% and 0.99%, respectively. The main event of last week was the FOMC and ECB rate decisions. The ECB decided to lower its interest rate by 0.25pp to an all time low of 0.5%. The FOMC…
The future price of natural gas (short term delivery) changed course and tumbled down on Thursday by nearly 7% after it had rallied at the beginning of the week. By the end of the week the Henry Hub future (short term delivery) fell by 2.67%. Based on the recent EIA natural gas storage report, the natural gas storage rose at a slower pace than the average five years did during…
Gold and silver changed direction from their downward during the past couple of weeks and rallied during last week. Specifically, the price of gold rose by 4.18% and silver by almost 3.5%. Was this rally a correction to the sharp fall in the prices of gold and silver from the previous week or a shift in market sentiment? The last several U.S reports showed a mixed signal regarding the progress…
Natural gas future price (short term delivery) changed direction and tumbled down during most of last week. By the end of the week the Henry Hub future (short term delivery) fell by 5.81%. Based on the latest EIA natural gas storage update, the natural gas storage rose slightly lower than the average five years did during the parallel week: The NG storage injection was 30 Bcf. In comparison, during the…
Natural gas future price (short term delivery) declined during the first part of the week only to changed course and sharply rose by the end of it. By the end of the week the Henry Hub future (short term delivery) increased again by 4.41%. Based on the recent EIA natural gas storage update, the natural gas storage changed direction and rose, much like the average five years did during the…
The precious metals market just recorded one of its worst performing week in years. The price of gold tumbled down by 7% and silver by almost 13%. I could go over the main reports of the week (and I will) but it’s hard to blame the reports on such a plunge in prices. Even the developments in the forex markets including the depreciation of the Aussie, Canadian dollar and Japanese…
Gold and silver took another beating and had one of the worst performing weeks in recent years. As of April 12th, the price of gold plummeted by 5.9%, which makes April the worst performing month for gold (to date) since May 2012. Silver tumbled down by 6.9%, which is still a smaller rate of decline than it had back in February 2013 (back then silver fell by 9.4%). The publication…
