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Natural Gas Slumps Despite Bigger-Than-Expected Supply Drawdown, Polar Vortex

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Natural gas futures slumped on Thursday, despite a bigger-than-expected supply drawdown and the coming polar vortex that is expected to blanket North America in frigid temperatures. Although prices dropped more than 1% toward the end of the trading week, market analysts are still optimistic about natural gas due to a myriad of bullish factors. February natural gas futures tumbled $0.036, or 1.34%, to $2.653 per million British thermal units (btu) at 16:10 GMT on Thursday on the New York Mercantile Exchange. Natural gas is trading flat for the week, but it has been on a tear during the first two weeks of the calendar year, surging nearly 5%. According to the US Energy Information Administration (EIA), domestic inventories of natural gas fell by 134 billion cubic feet … [Read More...]

Soybeans Pause Rally After USDA’s Bullish WASDE Report

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Soybean futures took a breather midweek after the US government released its first supply and demand report of 2021. The crop’s prices have extended their gains from 2020, rising close to 8% in the first two weeks of the year. But as prices trade at their best levels in 2021, how much higher can soybean go over the next 12 months? March soybean futures tumbled $0.0875, or 0.62%, to $14.095 per bushel at 14:16 GMT on Wednesday on the Chicago Board of Trade (CBoT). Soybean prices have risen to their highest point since February 2014, enjoying a thunderous 52% rally over the last 12 months. On Tuesday, the US Department of Agriculture (USDA) released its first World Agriculture Supply and Demand (WASDE) report of 2021. According to the USDA, soybean production is forecast to … [Read More...]

Video: Gold in Middle of Week of January 11-15, 2021

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In the present video, Phil Carr from The Gold and Silver Club talks about gold in the middle of the week of January 11–15, 2021. He starts the video by discussing the recent price moves, the reasons behind them, and how traders could have reacted to them. Phil then talks about the current behavior of gold and what traders can do going forward. If you found this video useful and want to see more videos like this one or if you want to see a commodity trading video on some other topic, please leave your response using the form below. © Commodity Inspector for Commodity Blog, 2021. | Permalink | No comment | Add to del.icio.us Post tags: Feed enhanced by Better Feed from Ozh [Read More...]

Gold Price Analysis for January 2021 – Georgia Vote to Push Gold to $2,000?

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In the present video, David Jones from Capital.com provides his forecast for gold in January 2021. Gold has reached an all-time high back in the summer of 2020, pulled back since then but has started a recovery afterward. David tries to assess whether it is a good time to buy into the recovery. He starts the video by discussing the recent moves of prices, explains what factors were influencing them and what fundamentals will impact the yellow metal in the future. Next, David lists the major support and resistance levels. He then turns to charts, discussing them, and trying to guess where prices may go next. In the end, David decides to be a buyer, placing an order to buy on a pullback, hoping that the recovery … [Read More...]

Gold Finishes First Trading Week of 2021 Below $1,900 on Firmer Dollar, Treasurys

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Gold futures are poised to settle the first trading week of 2021 below 2021. The yellow metal is cratering on Friday as the US dollar strengthened and Treasurys popped. In the backdrop at the end of the week were a disappointing December jobs report and the aftermath of chaos in US politics in recent days. Despite inflation fears and uncertainty in the broader market, gold has been slumping. February gold futures tumbled $55.70, or 2.91%, to $1,857.90 per ounce at 15:41 GMT on Friday on the COMEX division of the New York Mercantile Exchange. Gold is on track for a weekly decline of 2.3%. Silver, the sister commodity to gold, is also plunging to close out the trading week. March silver futures plummeted $1.416, or 5.19%, to $25.845 an ounce. … [Read More...]

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