President Donald Trump’s proposed tariff on imported steel and aluminum, at 25% and 10%, is much more than a shot across the bow. Indeed, this could be the official kickoff of the trade war we all anticipated
A major blow to the EU! The populist Five Star Movement won about one-third of the votes in the Italian general elections. It’s another negative shock for the European establishment. Will these stars shine on gold?
Shale predictions and price predictions, sometimes they just do not get it. According to an article in today's Financial Times, OPEC is shocked by how many hedge funds really have no clue about how the oil market works. OPEC’s Secretary General Mohammad Barkindo, who met with hedge fund managers, seemed shocked that many of them had no "basic understanding" of oil and were less savvy than was widely assumed.
Taking profits on our short positions and closing them on Thursday turned out to be a good idea. Gold, silver and – on an intraday basis – mining stocks moved higher on Friday, while the USD Index declined
With four central bank meetings and some top-tier data to look forward to as well, things could get quite interesting in the markets this week. But at the start of the week, there’s not much clarity with the dollar continuing to push higher against commodity currencies but trading mixed against the European currencies.
You can talk about shale oil and rig counts all you want but you must also talk about oil in storage or the lack thereof. My buddy Matt Smith at Clipper Data points out that Saldanha Bay in South Africa is home to one of the world's largest crude storage facilities, and it has seen its supply almost emptied out.
A potential trade war and Russian meddling, not in an election but to try to influence U.S. energy policies, is all the rage in the financial markets today. U.S. stocks plummeted after President Donald Trump slowed the market with the timing of his announcement that he would impose a 25% tariff on steel imports and 10% on aluminum.
Crude oil prices have bounced off their worst levels amid profit-taking after falling for the third consecutive day. Oil prices have given back a significant chunk of their gains made over the past couple of weeks.