The Latest Breaking News from Comex

As we move into 2024, more than a handful of commodities posted significant losses in 2023. The worst performers during one period tend to be the best during subsequent periods in the volatile raw materials asset class.

Copper prices have traded on either side of $4 in 2023. Over the past year, copper has poked its head over the $4 level in seven months and was below it for five months. At just below the $3.90 per pound level on December 19, nearby copper futures could be…

Copper prices have increased over the past month but are not running away on the upside. Copper is a bellwether metal that many market participants monitor for clues about the health and well-being of the global economy.

Gold reached a bottom on October 6. Over the past weeks, the price rose from below $1,825 to over $2,000 per ounce. Gold told the market the odds favored higher prices before the terrorist attack in Israel lit a bullish fuse under the precious metal.

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…