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Softs Report - Friday, May 3
Article By:
Jack Scoville
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Friday, May 3, 2024 2:45 PM EDT
Cotton was lower again yesterday, and trends remain down in the market. Demand remains a problem. The export sales report showed poor sales once again, and demand is not likely to improve with the US dollar stronger.
In this article: CANE
U.S. Oil And Gas Production Again On A Record Pace
Article By:
Robert Rapier
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Friday, May 3, 2024 12:45 PM EDT
Last year marked a record for U.S. oil production with an average daily production of 12.93 million barrels per day. However, current data shows that average daily production in 2024 is 13.12 million bpd — 7.1% ahead of the level of a year ago.
Silver Price Forecast: XAG/USD Plummets To $26 Despite Weak US NFP Data
Article By:
Sagar Dua
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Friday, May 3, 2024 10:28 AM EDT
Silver price plunges to $26 despite a sell-off in the US Dollar and bond yields. The US NFP report for April exhibited weak labor demand and soft wage growth. Weak labor demand will boost Fed rate cut prospects for September.
In this article: SLVR
XAUUSD Commodity Elliott Wave Technical Analysis
Article By:
Peter Mathers
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Friday, May 3, 2024 8:13 AM EDT
Gold’s price trajectory stands as a resolute testament to bullish sentiment, with a clear resurgence in the long-term uptrend since its nadir in September 2024, bottoming out at 1616.
In this article: GLD
The Commodities Feed - European Gas Rallies
Article By:
ING Economics
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Friday, May 3, 2024 7:11 AM EDT
European natural gas prices rallied yesterday despite comfortable storage and a bearish outlook. The move higher in crude oil was more modest, after several bearish developments over the week
Gold Commentary - Friday, May 3
Article By:
James Harte
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Friday, May 3, 2024 6:29 AM EDT
Gold prices are trading a little softer on Friday as traders brace for the latest set of US labour market readings. The last three months’ worth of NFP results have each surprised to the upside, keeping USD well bid consequently.
In this article: GLD
Daily Market Outlook - Friday, May 3
Article By:
Patrick Munnelly
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Friday, May 3, 2024 5:43 AM EDT
The main focus this week has been on the US as markets anticipate signals for when the Federal Reserve will cut interest rates. Today, there is a busy US data calendar, with the labor market report being a key signal of economic conditions.
After Sharp Pullback, Where Does Gold Go Next?
Article By:
MoneyShow.com
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Friday, May 3, 2024 2:20 AM EDT
Even when you know it’s coming at some point, the shock of a market sell-off like what we saw recently in gold is still unsettling. After seven weeks of dizzying gains with few interruptions, gold had gotten tremendously overbought.
“Safe Haven” Yen Trending Towards Zero Against Gold
Article By:
SchiffGold
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Thursday, May 2, 2024 1:34 PM EDT
The yen was once known as a safe-haven currency for investors to protect themselves when broader markets are shaky or other currencies are dropping, but those days are numbered.
The Most Important Gold Chart In 2024
Video By:
Jordan Roy-Byrne
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Thursday, May 2, 2024 1:09 PM EDT
Gold against the 60/40 portfolio is the most important gold chart for 2024.
In this video: GLD