BREAKING: Coffee
Coffee falls to its lowest price since November Enjoy your ☕☕☕ Source: Barchart
In case you missed it... Copper is up +29% year-to-date.
Better than gold.
So far, this has been the year of precious metals🔥
Performance year-to-date: Platinum +42% Gold +27% Silver +22% Bitcoin +9% The S&P 500 +3% Since the beginning of 2024: Bitcoin +149% Gold +63% Silver +52% Platinum +33% S&P 500 +26% Source: Global Markets Investor
Gold is now the second-most important reserve asset for central banks
Source: ECB, MKS-PAMP, FT
Gold Price over the last 100 years
source : BofA
Oil drops on signs conflict may space Iranian crude production
Oil fell as the conflict in the Middle East has so far avoided disrupting crude production and the Wall Street Journal reported that Iran privately expressed willingness to deescalate hostilities with Israel. West Texas Intermediate tumbled as much as 4.9%, after spiking higher at the open, after the newspaper said Tehran would be open to returning to the negotiating table as long as the US doesn’t join the attack. The development quelled fears that a protracted conflict would engulf a region that produces around a third of the world’s crude. Source: Bloomberg
Oil jumped as much as 14%
- biggest daily gain in more than 5 years - as Israel launched a series of airstrikes in Iran, and escalated the long-simmering conflict between the two nations into a full-on war. ➡️ The strikes targeted sites linked to Iran’s nuclear enrichment program, as well as top scientists Fereydoun Abbasi-Davani and Mohammad Mehdi Tehranchi, both of whom were killed, Iranian media reported. ➡️The commander-in-chief of Iran’s Islamic Revolutionary Guard Corps, Hossein Salami, was also killed in a strike. ➡️Netanyahu says attacks would ‘roll back’ Iran threat ➡️Tehran vows retaliation against Israel and US ➡️Washington distances itself from ‘unilateral’ attack. Trump said he will to convene National Security Council meeting. ➡️Oil prices jumped more than 10% as traders anticipated tighter supply. ➡️Gold is up 1.5% at $3,450. S&P 500 futures are down -1.5%. Bitcoin is down 3% at $104k
A major breakout for palladium
Source: Graddhy - Commodities TA+Cycles
