EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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There is no free nat gas market in Europe of Eurozone. Gazprom nat gas is three times more expensive than Henry Hub spot per BTU. Proposals by Portugal to import LNG from US are still blocked by Germany and France.
thank you in advance!
what do you think?
From MNI FX Bullets
GOLD: Analysts downplay reports Friday that suggest recent IMF gold
sales of 50-odd metric tonnes. They note that the World Gold Council's
June update said that the IMF had 2,814 metric tonnes as per April 2011,
unchanged from the end of year. The IMF concluded the sale of 403.3
metric tonnes (announced in Sept 2009) at the end of December 2010. One
gold analyst explains that the new year of the (five-year) Central Bank
Gold Agreement began in September 2010 so the newly reported sales are
likely from 2010. "This is just re-iterating the year-to-date,
previously disclosed sales." he says. Another analyst agrees "I think it
is due to time-delays in the IMF publishing its data." James Moore,
precious metals analyst at The BullionDesk says gold's slide Friday is
"a bit of an overreaction with IMF and ECB sales still to conform to the
CBGA limits, and are a mix of lackluster data, slowing physical demand
due to market seasonality and some stale long liquidation after gold
failed to make an upside breakout above $1550-$1554."
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NYMEX July light sweet crude (WTI) continues to tumble, partly
on a lack of topside followthrough, partly on risk aversion, and partly
on a report in the al-Hayat newspaper stating that Saudi Arabia will
boost production in July to 10 million barrels per day (from 8.8mn in
May), traders say. The move by the Saudis was largely expected after the
lack of agreement at this week's OPEC meeting, they note. The front
contract holds at $99 per barrel, down from an earlier high of $102.15
and up from a low of $98.79. In May, crude posted a 31-month high of
$114.83 (May 2) only to fall to $94.63 (May 6). This month, oil has
traded in a $97.74 (June 7) to $103.31 (June 1) range.
Ashraf
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Ashraf
I have periodically spoken about what it means for stocks
Last bullet point in Chap. 6.http://ashraflaidi.com/book/ worked on monthly cycles but also wkly. Gold/Oil Ratio best to use Brent.
Ashraf