|Day's Range||1,808.60 - 1,814.50|
Silver has been on a stellar ride with prices climbing to the highest level in nearly four years. Notably, the precious metal has climbed 68% since mid-March.
Oil stays near the $40 level as OPEC boosts its oil demand outlook for 2020.
Silver gapped lower to kick off the session on Tuesday after an explosive move to the upside on Monday. It does suggest that we could get a short-term pullback.
Crude oil markets did a little bit of drifting on Tuesday, initially dropping but also finding a bit of support underneath.
Natural gas markets drifted a bit lower on Tuesday, in a bid to reach towards the $1.70 level again.
Gold initially sold off on Tuesday but found enough buyers to turn around and form a hammer. There are plenty of fundamental reasons for gold to go higher.
US dollar rallied slightly on Tuesday after dipping overnight. As we see the greenback rise against the Japanese yen, the ¥107.50 level comes into play.
Silver tries to gain more momentum in continuation of the current upside trend.
B2Gold (BTG) continues to expect gold production between 1,000,000 ounces and 1,055,000 ounces for 2020 on the better-than-expected performance of its operating mines so far this year.
The Ethereum community has delivered on many of its promises, says the author of a new book charting the blockchain's early history.
Bitcoin is locked in a low-volatility squeeze similar to one seen ahead of a 40% price crash in November 2018. This time may be different.
Gold futures contract gained 0.68% on Monday, as it retraced some of late last week’s downward correction following Wednesday’s advance to new long-term high.
The Federal Reserve's balance sheet is shrinking but bitcoin investors are betting it's only a matter of time before the economic toll of the coronavirus leads to more money printing.
The world’s second-largest economy, China’s most recent data on crude oil importation showed a record high in the previous month despite growing concerns that the Chinese leadership imposed economic restrictions particularly in regions hit by COVID-19 resurgence.
Sterling weakened against the Dollar and most G10 currencies on Tuesday morning after UK economic growth figures massively undershot expectations by increasing a tepid 1.8% in May versus the 5% forecast.
The number of cases of Covid-19 in the U.S. have been rallying very quickly in last weeks, giving way only to the gold prices, which have surpassed $1,800.
Carnival shares dipped over 5% Monday after Wedbush slashed its price target in the wake of increasing coronavirus cases.
Asian stock markets slipped on Tuesday, oil sagged and a safety bid supported the dollar as simmering Sino-U.S. tensions and fresh coronavirus restrictions in California kept a lid on investor optimism as earnings season gets underway. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2%. Japan's Nikkei retreated from a one-month high touched on Monday, dropping 0.9%, while Chinese stocks were down despite better-than-expected trade numbers.
Gold is testing strong overhead resistance just above the $1,800 level. How gold behaves now and over the next several weeks will determine its trajectory for at least the next 18 months.
It’s a busy day ahead. The economic calendar, U.S earnings, and COVID-19 are key drivers on the day.