Industry Recognizing More Opportunities
CME Group’s ferrous scrap steel
futures market recently witnessed a sudden spike in tonnage, logging its strongest monthly
performance since its launch last September, according to American Metal Market. “Momentum has been
building and people recognize opportunities” in the contract, one broker told American Metal
Market. June scrap futures traded around $375 per ton late this… Read more
The silver market initially held up rather impressively despite ongoing spillover pressure from
gold and platinum prices. It goes without saying that some of the pressure in silver this morning
was a result of strength in the Greenback but some players might have been…
The silver market into mid session was able to hold above the prior session’s low, but spillover
pressure from gold and platinum was clearly weighing on silver prices….
Compiled 05/17/13 6:00 AM (CT) Statistics: London Gold AM Fix $1,376.75, -$.25 LME Copper Stocks
631,950 tons +5,550 tons. SILVER MARKET FUNDAMENTALS: (6:00 AM CT) In the overnight action, July
silver held up relatively better than the gold market, as silver prices…
The U.S. Comex gold futures fell 3.46 percent week-to-Thursday to $1,386.90, just $64 above the
worst level reached in mid-April this year. Year-to-date, the gold futures dropped 17.24 percent,
compared to a rise of 15.73 percent in the S&P 500 Index, 6….
The silver market was under initial pressure today in the face of ongoing adversity from the
currency markets. However, a reversal in the currency markets and some slack US economic data
seemed to shift sentiment toward silver and gold well ahead of mid session….
The silver market forged a rather significant downside probe, but the brunt of that washout was
reversed into mid session. Therefore the bull camp might feel like the technical condition shifted
back in their favor this morning, but its also possible that silver and gold…
Compiled 05/16/13 6:00 AM (CT) Statistics: London Gold AM Fix $1,377.00, -$35.25 LME Copper Stocks
626,400 tons -3,125 tons. SILVER MARKET FUNDAMENTALS: (6:00 AM CT) In addition to spill over
pressure from gold, silver is also seeing some currency related selling…
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July silver prices fell down to the lowest level since the key April spike low trade and for some
that leaves the technical picture in the bear’s court….