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by winston » Wed Aug 03, 2022 9:54 pm
Speculators haven’t been this bearish on gold since 2019.
We’re still above the lowest lows of the last decade… But hitting a multiyear low is still a powerful setup.
by behappyalways » Sat Aug 06, 2022 10:33 pm
by winston » Wed Aug 10, 2022 7:10 am
Electronics and photovoltaics sectors support industrial consumption, while retail and jewelry demand look strong.
HSBC now sees the average price at US$22.25 an ounce for 2022 and at US$23.50 for 2023. UBS Group AG expects silver to trade lower to US$19 by early 2023.
Silver’s trajectory will closely follow gold, and investors should consider buying both metals when the Fed makes a proper dovish pivot and there’s meaningful easing of policy to support growth.
by winston » Mon Aug 15, 2022 7:42 am
It’s too early to say that this is a new uptrend. But if it is, much higher prices are possible. Gold stocks would have to rise another 55% or more to hit their highs from earlier this year.
by behappyalways » Thu Aug 18, 2022 12:39 pm
by winston » Tue Aug 23, 2022 9:53 pm
Charts suggest $17 lows if downward trajectory doesn’t give up
More than 50% of silver’s demand originates from industrial use.
The transition to clean energy had also been expected to drive physical demand for silver, particularly for connections in electric vehicles and for components within solar panels.
The rollout of fifth generation (5G) telecom networks was seen as another substantial source of demand.
“Failure to make sustained break above $18.90 and $19.50 will resume selling pressure for a quick retest of the $18.13 low on July 14, followed by $17.47 on the weekly lower band.”
by behappyalways » Fri Sep 02, 2022 2:54 pm
by winston » Mon Sep 05, 2022 7:44 am
The platinum market was in surplus on paper but on the ground tightness sent lease rates surging to the highest levels in a decade.
Lease rates for platinum peaked at around 10% in May, higher than at the peak of the pandemic. The one-month lease rate has eased back to 3.6%, still much higher than the 10-year average of 0.3%.
China imported 1.44 million ounces of platinum in the first six months of the year, but 645,000 ounces of that could not be tracked.
China may be increasing its platinum loadings in catalytic converters of heavy vehicles due to stricter emission standards, he said.
Around 40% of platinum is used in vehicle exhausts to remove harmful emissions. It is also widely used in jewellery.
Total supply is forecast to decline 8% this year, with mine supply having declined 4% in the second quarter. Higher Russian output was offset by declines elsewhere.
by behappyalways » Sun Sep 18, 2022 5:47 pm
by behappyalways » Wed Sep 21, 2022 2:33 pm
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