The Latest Breaking News from Comex

With violence in the Middle East escalating this past week, invsestors have been moving money to the safe haven commodity markets of gold and crude oil.

I have been bullish on copper, but the price action remains bearish. Copper is the leading base metal on the London Metals Exchange. Aluminum, nickel, lead, zinc, and tin prices often follow copper higher or lower. In October 2023, copper remains in a bearish trend, but bullish and bearish factors…

Gold made an ominous bearish technical pattern when it made a double-top, reaching $2,072 per ounce in March 2022 and May 2023. Since the latest peak, the price action turned bearish, with the precious metal making lower highs and lower lows.

Copper is one of the leading commodities that can provide clues about the path of least resistance of the asset class. Many market participants look to Doctor Copper as a barometer of the health and well-being of the global economy. Moreover, as China is the leading consumer, copper is a…

Gold is the world’s oldest currency. Central banks, governments, monetary authorities, and supranational institutions own gold as a foreign currency reserve asset. Over the past years, they have increased holdings, even though gold prices have been rising since the turn of this century. The potential for a new currency that…

High interest rates typically weigh on commodity prices as they increase the cost of carrying raw material inventories and increase production expenses. However, nothing is ordinary about the current historical period, which could mean commodity prices can rise even if rates remain stable or move slightly higher.

It is virtually impossible to pick a bottom when the price of any asset is in a bearish trend. Copper corrected 37.1% from the March 2022 high, reaching a low four months later in July 2022. Copper futures have mostly been consolidating below the midpoint of the $3.15 to $5.01…

Platinum is a rare precious metal with significant industrial applications, but over the past years, that has not helped the price. While gold and palladium rose to all-time highs in 2022, platinum could not manage a rally to anywhere near the 2008 record peak. After attempting to move above the…

Gold put in a double-top on the long-term chart in May 2023, leading to a correction. Gold is a hybrid asset, part commodity, and part financial instrument. Therefore, gold tends to be far less volatile than other commodities.

Silver’s price rallied from below $22.50 to above $25 per ounce from late June through late July before falling. Below the $24 level. Silver is the most speculative precious metal because of its per-ounce price and penchant for volatility, resulting in significant percentage moves when it moves into a bearish…

Copper has been consolidating between $3.50 and $4.00 per pound since late April 2023. At just over $3.85 per pound on July 13, now could be the perfect time to begin buying copper as the prospects for higher prices remain compelling.