Natural Gas – Inventories Trickle In, Will The Price Recover?

Natural gas moved marginally higher Nowhere near technical resistance- A level to watch at the end of August Inventories rise slowly NYMEX natural gas futures traded to a low at $2.029 per MMBtu on the September contract at the start of August. Since then, the energy commodity has been struggling to recover. At just over the $2 level, natural gas reached its lowest price since May 2016. Last November, the price of nearby natural gas futures rose to a high at $4.929 per MMBtu as the injection season turned to…

Gold – The Risk Rises With The Price

Lots of issues facing markets across all asset classes Markets rarely move in a straight line – Will gold be different? A bumpy ride higher on the horizon Last week, the gold market did what it has been doing consistently since June. The price of the yellow metal rose to another new multiyear high. On the continuous futures contract, the price reached $1531.40, and the most actively traded December futures contract reached a peak at $1546.10 per ounce. Gold has been shining since late April when it found a bottom…

Oil – An Important Level for Investors to Watch

Oil prices have been under pressure The energy commodity does not do well with risk-off A level to watch on the downside The price of crude oil was trading at just under the $55 per barrel level at the end of last week. The price of the energy commodity that powers the world was around $11 below the high in 2019 and $11 above the lows over the past eight months. The price action in the crude oil futures market that trades on NYMEX has been bearish. However, the floor…

What’s next for gold and silver?

Gold rises to the highest price since 2013 Silver trades north of $17 per ounce A pullback is possible, but the trend is your friend After gold and silver reached highs in 1980, the prices took a back seat for almost one-quarter of one century when it comes fiat currency instruments. The dollar, euro, yen, and all of the other foreign exchange instruments derive value from the full faith and credit of the governments that print legal tender and mint coins. The rise of currencies and the fall of precious…

Where is Natural Gas headed?

A new low in natural gas last week Inventories do not support the current price action in the energy commodity A test of the $2 level is on the horizon Natural gas has been in a bear market since the price fell below the critical levels of support at the 2018 and 2017 lows at just over $2.50 per MMBtu. In 2016, the price of the energy commodity reached a bottom at $1.611. Over the following two years, the price held at above $2.50 during the seasonally week time of…