Metals

Archive for Metals – Page 9

Gold under pressure again as risk appetite improves

The price of gold declined to 3,307 USD per troy ounce on Tuesday as investor appetite for risk increased amid growing optimism over a potential de-escalation in US-China trade tensions.

Trade optimism weakens demand for safe-haven assets

The improvement in market sentiment stems from the high-level trade talks between the US and China, which began in London on Monday and continue today. Both sides are working to stabilise a fragile truce, with discussions now extending beyond tariffs to include strategic materials such as rare earth elements.

US Treasury Secretary Scott Bessent described Monday’s session as “a good meeting”, while Commerce Secretary Howard Lutnick called the talks “fruitful”. These positive signals are fuelling hopes for a normalisation of relations between the world’s two largest economies, thereby reducing the appeal of defensive assets like gold.

Investors are also closely watching upcoming US inflation reports, which will include both consumer and producer price indices. These data points could provide crucial insight into the Federal Reserve’s future monetary policy stance.

Meanwhile, a survey by the Federal Reserve Bank of New York, released on Monday, showed that Americans’ inflation expectations declined in May while confidence in personal finances improved, adding to the overall risk-on sentiment.

Technical analysis of XAU/USD

On the H4 chart, XAU/USD is developing a corrective structure targeting 3,263 USD. Once this correction is complete, a new upward wave towards 3,419 USD is expected. The MACD indicator supports this view, with its signal line positioned below zero and pointing sharply downwards, indicating a short-term bearish phase within a broader bullish setup.

On the H1 chart, the market formed a consolidation range around 3,331 USD, then broke downwards, reaching the local target at 3,294 USD. A subsequent correction to 3,333 USD has now been fulfilled. Today, the development of a fifth-wave structure is anticipated to reach 3,263 USD. Following this move, gold is expected to resume its growth towards 3,419 USD. The Stochastic oscillator confirms the current outlook, with its signal line below 50 and heading sharply towards 20, signalling continued downward momentum in the short term.

Conclusion

Gold remains under pressure as improving geopolitical sentiment and a better economic outlook dampen demand for safe-haven assets. Near-term technicals indicate further downside towards 3,263 USD, followed by a potential bullish reversal targeting 3,419 USD. Key drivers in the coming sessions will include US inflation data and progress in the US-China trade negotiations.

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Financial News Metals

08 Jun

COT Metals Charts: Weekly Speculator Changes led higher by Gold & Silver

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday June 3rd and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led higher by Gold & Silver

The COT metals markets speculator bets were higher this week as four out of the six metals markets we cover had higher positioning while the other two markets had lower speculator contracts.

Leading the gains for the metals was Gold (13,721 contracts) with Silver (7,758 contracts), Copper (1,513 contracts) and Palladium (233 contracts) having positive weeks.

The markets with declines in speculator bets for the week were Platinum (-5,294 contracts) and with Steel (-1,279 contracts) also registering lower bets on the week.

Gold bets rose this week for the third straight this week after having fallen in the previous four weeks. Currently, the gold speculator bets are up to their highest level in the past seven weeks. Silver bets meanwhile, also rose for the third straight week and they are now at their highest level in the past ten weeks, dating back to March 25th.

Metals Price Performance in last 5-Days:

– Platinum was the big riser with a 10% gain.
– Silver was up by 9%.
– Palladium over 7.5%.
– Copper rose by 3%.
– Gold was up by 0.5%.
– Steel was down by 9% in the last 5 days.
– All of the metals markets have been up by at least 5% or more in the last 90 days, with platinum & gold up by approximately 20% and steel up by almost 20%.

Metals Data:

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Silver

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Silver (93 percent) leads the metals markets this week. Steel (68 percent) and Platinum (63 percent) come in as the next highest in the weekly strength scores.

On the downside, Palladium (50 percent) and Gold (52 percent) come in at the lowest strength level currently.

Strength Statistics:
Gold (51.6 percent) vs Gold previous week (46.4 percent)
Silver (92.9 percent) vs Silver previous week (83.1 percent)
Copper (55.7 percent) vs Copper previous week (54.3 percent)
Platinum (63.4 percent) vs Platinum previous week (75.9 percent)
Palladium (49.7 percent) vs Palladium previous week (48.0 percent)
Steel (67.7 percent) vs Palladium previous week (74.0 percent)

Platinum & Palladium top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Platinum (34 percent) and Palladium (27 percent) lead the past six weeks trends for metals.

Steel (-13 percent) leads the downside trend scores currently with Copper (-1 percent) as the next market with lower trend scores.

Move Statistics:
Gold (4.8 percent) vs Gold previous week (-10.6 percent)
Silver (20.3 percent) vs Silver previous week (11.5 percent)
Copper (-0.6 percent) vs Copper previous week (2.9 percent)
Platinum (34.0 percent) vs Platinum previous week (45.7 percent)
Palladium (26.7 percent) vs Palladium previous week (18.6 percent)
Steel (-12.9 percent) vs Steel previous week (-8.3 percent)

Individual Markets:

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week came in at a net position of 187,905 contracts in the data reported through Tuesday. This was a weekly lift of 13,721 contracts from the previous week which had a total of 174,184 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 51.6 percent. The commercials are Bearish with a score of 42.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 97.1 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	59.4	17.0	12.5
– Percent of Open Interest Shorts:	14.2	70.1	4.6
– Net Position:	187,905	-220,826	32,921
– Gross Longs:	246,982	70,905	51,996
– Gross Shorts:	59,077	291,731	19,075
– Long to Short Ratio:	4.2 to 1	0.2 to 1	2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.6	42.8	97.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.8	-6.7	23.5

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week came in at a net position of 60,770 contracts in the data reported through Tuesday. This was a weekly advance of 7,758 contracts from the previous week which had a total of 53,012 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 92.9 percent. The commercials are Bearish-Extreme with a score of 6.9 percent and the small traders (not shown in chart) are Bullish with a score of 59.6 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	50.2	20.0	18.3
– Percent of Open Interest Shorts:	13.0	68.5	7.1
– Net Position:	60,770	-79,141	18,371
– Gross Longs:	81,981	32,689	29,969
– Gross Shorts:	21,211	111,830	11,598
– Long to Short Ratio:	3.9 to 1	0.3 to 1	2.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	92.9	6.9	59.6
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	20.3	-16.3	-6.2

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week came in at a net position of 24,094 contracts in the data reported through Tuesday. This was a weekly gain of 1,513 contracts from the previous week which had a total of 22,581 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.7 percent. The commercials are Bearish with a score of 47.2 percent and the small traders (not shown in chart) are Bearish with a score of 35.4 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.6	30.5	6.9
– Percent of Open Interest Shorts:	22.3	43.3	5.5
– Net Position:	24,094	-27,013	2,919
– Gross Longs:	71,249	64,639	14,562
– Gross Shorts:	47,155	91,652	11,643
– Long to Short Ratio:	1.5 to 1	0.7 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.7	47.2	35.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.6	-2.9	24.4

Platinum Futures:

The Platinum Futures large speculator standing this week came in at a net position of 20,049 contracts in the data reported through Tuesday. This was a weekly decrease of -5,294 contracts from the previous week which had a total of 25,343 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 63.4 percent. The commercials are Bearish with a score of 40.8 percent and the small traders (not shown in chart) are Bearish with a score of 35.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	62.0	17.1	10.9
– Percent of Open Interest Shorts:	40.9	41.5	7.5
– Net Position:	20,049	-23,233	3,184
– Gross Longs:	59,019	16,293	10,349
– Gross Shorts:	38,970	39,526	7,165
– Long to Short Ratio:	1.5 to 1	0.4 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	63.4	40.8	35.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	34.0	-26.0	-32.1

Palladium Futures:

The Palladium Futures large speculator standing this week came in at a net position of -7,293 contracts in the data reported through Tuesday. This was a weekly lift of 233 contracts from the previous week which had a total of -7,526 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 49.7 percent. The commercials are Bearish with a score of 46.9 percent and the small traders (not shown in chart) are Bullish with a score of 67.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.3	46.9	12.9
– Percent of Open Interest Shorts:	76.5	11.0	8.5
– Net Position:	-7,293	6,502	791
– Gross Longs:	6,570	8,498	2,336
– Gross Shorts:	13,863	1,996	1,545
– Long to Short Ratio:	0.5 to 1	4.3 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	49.7	46.9	67.3
– Strength Index Reading (3 Year Range):	Bearish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	26.7	-26.0	-6.3

Steel Futures Futures:

The Steel Futures large speculator standing this week came in at a net position of -1,544 contracts in the data reported through Tuesday. This was a weekly reduction of -1,279 contracts from the previous week which had a total of -265 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 67.7 percent. The commercials are Bearish with a score of 33.1 percent and the small traders (not shown in chart) are Bearish with a score of 49.0 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend.

Steel Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.2	69.9	0.9
– Percent of Open Interest Shorts:	29.0	65.4	0.5
– Net Position:	-1,544	1,434	110
– Gross Longs:	7,698	22,265	274
– Gross Shorts:	9,242	20,831	164
– Long to Short Ratio:	0.8 to 1	1.1 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.7	33.1	49.0
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.9	12.1	23.6

Article By InvestMacro – Receive our weekly COT Newsletter

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting). See CFTC criteria here.

05 Jun

Gold poised for further gains as US economic outlook deteriorates

By RoboForex Analytical Department

Gold prices held firm at 3,373 USD per troy ounce on Thursday, remaining near a four-week high. The metal’s strength is being fuelled by mounting concerns over the US economic slowdown, boosting demand for non-yielding safe-haven assets.

US data signals economic distress

The latest reports revealed a contraction in the US service sector for the first time in nearly a year – an alarming sign of broader weakness.

Additionally, the ADP employment report indicated a notable slowdown in private-sector hiring. In May, only 37,000 new jobs were added, far below the expected 111,000 and lower than April’s figure of 60,000.

These weak indicators have bolstered expectations that the Federal Reserve will cut interest rates at least twice this year. Such prospects typically favour gold, as the metal becomes more attractive in a low-rate environment.

Despite Donald Trump’s repeated calls for rate cuts, Fed officials remain cautious, especially in light of persistent trade risks and volatile global conditions.

Attention now shifts to the US non-farm payrolls report, due on Friday, which could provide further clarity on the Fed’s policy path.

Technical analysis of XAU/USD

On the H4 chart, gold is forming the fifth wave of growth, targeting 3,415 USD. The entire structure is viewed as a corrective phase following the previous decline. Once this wave is complete, a new downtrend towards 3,060 USD is anticipated. The MACD indicator supports this scenario, with its signal line above zero and pointing sharply upwards, indicating continued bullish momentum for now.

On the H1 chart, gold formed a consolidation range around 3,331 USD, then broke out upwards, reaching the local target of 3,391 USD. A correction to 3,333 USD has already played out. Currently, the market is developing the final leg of the fifth wave towards 3,417 USD, with a compact consolidation zone forming around 3,374 USD. If gold breaks upwards, the next resistance will be at 3,404 USD, followed by a pullback to 3,374 USD, and then further growth to the 3,417 USD target. The Stochastic oscillator confirms this scenario, with its signal line below 20 and moving sharply upwards towards 80, signalling the potential for near-term upward continuation.

Conclusion

Gold remains well-supported by deteriorating US economic data and expectations of monetary easing by the Fed. As long as concerns over employment, services activity, and trade uncertainty persist, gold’s upward momentum is likely to continue. Key technical levels include support at 3,333 USD and resistance at 3,404-3,417 USD, with broader downside risk emerging only after the current bullish wave concludes.

Disclaimer

Financial News Metals

30 May

Gold Ends the Week Lower as Risk Appetite Returns

By RoboForex Analytical Department

The price of gold fell below 3,300 USD per troy ounce on Friday, closing the week with a loss of approximately 1%.

Key drivers behind gold’s movement

Investors remain cautious ahead of today’s US PCE inflation report, which could offer fresh clues on potential Federal Reserve rate adjustments.

On Thursday, gold prices gained nearly 1% after an appeals court temporarily upheld tariffs imposed during Donald Trump’s presidency. This followed a ruling by a US trade court a day earlier, which had blocked the tariffs, deeming their implementation unlawful.

San Francisco Fed President Mary Daly reiterated that the Fed could still deliver two rate cuts this year, as projected in March. However, she emphasised that rates must hold steady for now to achieve the 2% inflation target.

Gold faced volatility in May as global risk sentiment improved, reducing demand for safe-haven assets. Hopes of a resolution in US trade disputes spurred investors back into equity markets.

Technical analysis: XAU/USD

H4 Chart:

The market completed a correction wave to 3,246, followed by an upward impulse to 3,331
Currently, a downward pullback towards 3,280 is forming, with consolidation around 3,320
A downside breakout could extend losses to 3,200, while an upside breakout may fuel a rally towards 3,388, exhausting the bullish wave
A subsequent downtrend towards 3,060 is anticipated
MACD confirmation: The signal line has exited the histogram zone, indicating a firm upward trend

H1 Chart:

The upward wave to 3,331 has concluded, with a correction to at least 3,255 expected today
Thereafter, another upswing towards 3,355 (potentially extending to 3,388) may follow, although this is viewed as a corrective pullback within the broader downtrend
Once complete, a new decline towards 3,222 (possibly 3,060) is likely
The stochastic indicator supports this view: The signal line is below 20, rising sharply towards 80

Conclusion

Gold’s near-term direction hinges on breakouts from the current range, with technical indicators suggesting further volatility ahead.

Disclaimer

Financial News Metals

29 May

Junior Gold, Silver, or Uranium Stocks

Source: Stewart Thomson (5/28/25)

Newsletter writer Stewart Thomson addresses the question: Should investors own junior gold stocks, junior silver stocks, or junior uranium stocks?

With the U.S. government’s new and righteous backing of nuclear energy (fission for now and ultimately fusion), gold and silver stock enthusiasts may wonder if they should be adding some yellowcake stocks to their portfolios.

First, a bit of background on the CDNX venture market, where most of the world’s junior resource stocks trade. There’s no ETF (one was tried back around the year 2006, but it failed), so investors need to focus on the individual companies.

Here’s a look at the daily chart:

A significant breakout from a broadening pattern is in play and the target is a nice one, at 900. The long-term monthly chart is even more stunning, and here it is:

The target of this massive H&S pattern is at least 1500 and as high as round number 2000. Given the amount of time that has gone into it, it’s reasonable to expect the CDNX to reach much higher prices, even, perhaps, an all-time high.

Note the key Stochastics oscillator at the bottom of the chart. During regular rallies, an overbought situation is an amber light for investors.

In contrast, when the price is rallying towards a key breakout point, overbought Stochastics adds weight to the upside scenario.

When it comes to yellowcake (uranium) stocks, it’s difficult to find ones with a lot of liquidity on the CDNX. Most of them are on the bigger TSX. The good news is that there are many juniors there too.

Here’s a look at Sprott’s URNJ junior uranium stocks ETF chart:

Investors who are new to the uranium sector should consider starting with the ETF and adding individual stocks from there. Denison Mines Corp. (DML:TSX; DNN:NYSE.MKT) is an experienced uranium player, with a stock price junior investors will like.

Here’s the chart:

Most of the junior uranium stocks look poised for 50%-100% gains. For gold, an interesting play is Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS).

Here’s a look at the bio for the company’s no-nonsense president:

The good news is that the chart looks as enticing as the robust management team indicates it could be:

It looks like Michelangelo sculpted it!

The target is at least the highs near 80 cents, and the breakout looks solid.

Silver?

Well, here’s my take on Santacruz Silver Mining Ltd. (SCZ:TSX.V; SCZMF:OTC; 1SZ:FSE):

If I had to pick just one CDNX silver stock to buy right now, well, I couldn’t.

There are many of them leaping up from massive base patterns and that’s just one of many reasons the CDNX index charts look so fantastic!

Special Offer for Streetwise Readers: Please send me an Email to [email protected] and I’ll send you my free “CNDX Ten Baggers: The Time To Buy Is Now!” report. I highlight stocks with breakout gaps, big volume, solid projects, great management, and rock-solid investor tactics to play the action!

I write my junior resource stocks newsletter about twice a week, and at just $199/12mths it’s an investor favourite. I’m doing a special pricing this week of $169 for 14mths. Click this link or send me an email if you want the offer and I’ll get you onboard. Thank-you.

Important Disclosures:

Stewart Thomson: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Stewart Thomson Disclosures

Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualified investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is: 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line:

Are You Prepared?

Financial News Metals

26 May

Gold Halts Rally as US Signals Willingness to Discuss Trade Terms with EU

By RoboForex Analytical Department

The price of gold fell on Monday to $3,346 per troy ounce, pausing its recent upward trend as investors assessed the implications of a phone call between the US and the EU.

Key factors driving gold’s movement

Demand for safe-haven assets weakened after US President Donald Trump announced plans to delay proposed 50% tariffs on European goods. While he had initially intended to impose the levies from 1 June, he set a new deadline of 9 July to allow time for negotiations with the European Union.

However, trade risks persist and remain a focal point for markets. Last Friday, Trump warned Apple Inc. that its products could face 25% tariffs if iPhones are manufactured outside the US.

Gold had surged nearly 5% last week amid escalating trade uncertainty and growing concerns over the US economic and fiscal outlook.

Adding to market apprehension, Trump’s new tax bill – already passed by the House of Representatives and now awaiting a Senate vote – could expand the US budget deficit by nearly $3 trillion over the next decade. A final vote is expected by August.

Technical analysis: XAU/USD

On the H4 chart, XAU/USD found support at 3,280 before rallying to 3,364. A corrective pullback towards 3,255 is possible today, followed by a potential upward move to 3,388. This scenario is supported by the MACD indicator, whose signal line has exited the histogram zone and is now pointing decisively downward.

On the H1 chart, the market has completed its local corrective target. A further decline to at least 3,255 is anticipated today, after which another upward wave may develop towards 3,388. Bullish momentum would likely be exhausted at that point, with the entire rally regarded as a correction within the broader downtrend. Once this correction concludes, a resumption of the downtrend may follow, with a potential decline to 3,222 and an eventual extension towards 3,060. This bearish outlook is corroborated by the Stochastic oscillator, whose signal line has dipped below 80 and is trending sharply downward towards 20.

Conclusion

Gold’s rally has stalled as markets digest shifting US-EU trade dynamics, though lingering risks and technical indicators suggest further volatility ahead.

Disclaimer

Financial News Metals

25 May

COT Metals Charts: Speculator Bets led higher by Platinum & Gold

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday May 20th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Platinum & Gold

The COT metals markets speculator bets were overall higher this week as four out of the six metals markets we cover had higher positioning while the other two markets had lower speculator contracts.

Leading the gains for the metals was Platinum (8,080 contracts) with Gold (2,772 contracts), Silver (2,288 contracts) and Palladium (2,109 contracts) also showing positive weeks.

The market leading the declines in speculator bets for the week was Steel (-618 contracts) and with Copper (-484 contracts) also registering lower bets on the week.