Natural Gas and Palladium Best Performing Futures Third Quarter of 2022, Lumber and Gasoline the Worse

Futures and commodities saw another period of extreme volatility in the third quarter of 2022 as central banks aggressively rose interest rates globally to belatedly fight inflation. These movers sent the USD soaring, with the British Pound hitting an all-time low. The Chinese Yuan, Euro and Japanese Yen hitting historical lows. Commodities had violent swings depending on how big the reversal to the mean was after the moves at the start of the year. Consistency was not a theme for … Continue reading “Natural Gas and Palladium Best Performing Futures Third Quarter of 2022, Lumber and Gasoline the Worse”

Gold Miner Newmont Shares Crumble 12% After Earnings Miss on Weaker Bullion Prices

Gold and copper producer Newport Goldcorp announced weaker than expected second quarter earnings Monday sending their stock sharply lower. By lunchtime NEM was trading at 45.26-6.13 ( -11.94%) a more than two-year low. The companies’ shares have tumbled 40% over the past three months. Profit was down almost 41% from a year ago, reflecting a drop in gold prices and cost of sales jumped 33% while sales fell. Newmont: Boddington Australia Newmont Q2 2022 Earnings Newmont second-quarter profit fell well … Continue reading “Gold Miner Newmont Shares Crumble 12% After Earnings Miss on Weaker Bullion Prices”

With Russia About to Default US President Bidens Says G7 Will Ban Imports of Russian Gold

U.S. President Joe Biden announced “Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia,” via Twitter. The move comes right after Swiss refiners imported gold for the first time since February. Biden tweeted ahead of the G7 leaders arriving at Schloss Elmau, the luxury resort in the German Bavarian Alps. They are attending a summit about the Russian invasion of Ukraine and the global … Continue reading “With Russia About to Default US President Bidens Says G7 Will Ban Imports of Russian Gold”

The Energy Crisis and Volatility See Natural Gas and VIX the Best Performing Futures in January

Futures and commodities had a volatile start to 2022. January was about the energy crisis and interest rates and inflation. This pattern accelerated after the Fed minutes of the December FOMC took hold. This was borne out by the best performing futures being natural gas, VIX and Palladium. Energy was five of the highest gains for the month. The worse were lumber, ethanol and the major stock market indices. For the month S&P and Nasdaq have their worst month since … Continue reading “The Energy Crisis and Volatility See Natural Gas and VIX the Best Performing Futures in January”

Blackstone’s Byron Wien Annual List of Surprises for 2022

One of the most widely followed analysts on Wall Street, Byron Wien issued his list of the Ten Surprises of 2022. Wien, 88 is a former Morgan Stanley strategist who has put out his “surprises” list since 1986. Now Vice Chairman in the Private Wealth Solutions group at Blackstone put out the list with Chief Investment Strategist Joe Zidle, What is a Surprise Byron defines a “surprise” as an event that the average investor would only assign a one out … Continue reading “Blackstone’s Byron Wien Annual List of Surprises for 2022”

Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022

Agricultural and energy futures and commodities rose sharply pumped by the reopening of economies in 2021 with the Covid -19 knock ons running roughshod over supply routes and employment. The biggest losers were last year’s winners, safe haven elements such as the VIX, treasuries and foodstuffs. Oat Futures closed up 89.74% this year. back in October the United Nations index shows that global food prices recently hit a decade high, oat futures hit an all-time high of $6.36 a bushel … Continue reading “Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022”

Gold Worse Month Since 2016 Despite Weak US Dollar and Inflation Scares

Gold is down over 8% for the year and on target for its worst month since late 2016. This is despite traditional safe haven buy cues such as inflation scares, a weak US dollar, and an uncertain world, Gold bugs climbed into the precious metal after the Fed’s massive new stimulus package and talks of Fiat currency collapse. What happened? One thing, Bitcoin took much of that Gold bug clientelle and yields have tracked higher.

Citadel Increases Commodity Hedge Fund Management After Billion Dollar Gains

Chicago based Hedge fund Citadel has made massive profits on it’s commodity investments in 2020, over $1 billion according to Reuters.  Much of the gains were in oil and gas from the price swoons from the Covid demand meltdown, Large gains were also said to be have made in agriculture commodities.