Just over a week ago, on February 21, when looking at the crude market, Dennis Gartman siad that "our bet at this point is that the bullish forces prevail, and we say this despite the fact that so much has been made of the rising level of “spec” longs in the market and despite the fact that the rising level of “commercial” shorts has reached new all-time highs.
Via Doug Ramsay Of Leuthold Weeden Capital Management,
Do You Believe This Guy?
Don’t tell The Donald, but the stock market doesn’t take him seriously.
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Gold Fundamentals Strong As PDAC Looms
Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)
Gold prices have surged (+8.57% EOD Wednesday) since January. However, one expert says that trend could continue.
Via Zainab Calcuttawala of OilPrice.com,
Venezuela’s central bank is down to its last $10.5 billion in foreign reserves, according to the institution’s most recent report on the country’s financials.
Over the remainder of 2017, Caracas needs to fund $7.2 billion in debt payments – an amount that it can only meet if oil prices spike far higher than the ongoing boosts caused by OPEC’s output reduction agreement.
At exactly 1130ET (as Europe closed), someone decided to unload over $2 billion notional of silver into the futures pits...
Over 23,000 Silver futures contracts suddenly puked into the market as soon as Europe closed...
Silve rhad managed to get back most of the losses post-election but once the selling broke 18.155 (200DMA) it accelerated...this is the biggest drop since The Fed hiked rates in December.
Gold is also getting hit but far less aggressively...