Commodities, measured by the Bloomberg Commodity Index, are on the verge of breaking out!
Source: Bloomberg, Karel Merck on X
Gold continues to shine, trading at all time highs and up 34% since February.
To BAML, gold is frontrunning rate cuts. Or is it something else?
NEARLY 200 MISSILES WERE LAUNCHED INTO ISRAEL FROM IRAN, ISRAELI ARMY RADIO SAYS
ISRAELI OFFICIAL SAYS RESPONSE TOWARDS IRAN ‘WILL BE HARSH’: KANN Bomb alarm sirens across the entire country (map). Oil spikes +4% Gold +1% VIX skyrockets +20% S&P 500 down 0.9% Source: Global Markets Investor on X
BREAKING: Oil prices surge back above $70/barrel as investors begin pricing-in potential supply disruptions in the Middle East.
We now have a port strike, rising oil prices, aggressive Fed rate cuts and a china monetary + fiscal package. Could this combination trigger a second wave of inflation?
UBS raises its gold targets
Source: UBS
The world's largest oil exporter is preparing to raise output from December as it resigns itself to lower global prices.
Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices, according to people familiar with the country’s thinking. The world’s largest oil exporter and seven other members of the Opec+ producer group had been due to unwind long-standing production cuts from the start of October. But a two-month delay sparked speculation over whether the group would ever be able to raise output, with the price of Brent crude, the international benchmark, briefly dropping below $70 this month to its lowest since December 2021. Source: FT >>> https://lnkd.in/eYwDvYcQ
Gold is now trading at 40-year extremes relative to its 200D moving average
Source: BofA, Barchart
UPDATE 🚨: Silver hit the highest price in more than a decade
Source: Barchart
