Gold Silver Reports – Below are the latest ETF Cutline reports, which show how far above or below their respective long-term trend lines (39 week SMA) my currently tracked ETFs/MFs are positioned.
The first report covers the ETF Master List from Thursday’s StatSheet and includes 381 ETFs, of which currently 56 (last week 55) are hovering in bullish territory.
Gold Silver Reports – China’s insatiable appetite for crude is at least one thing oil bulls can count on this year.
The world’s biggest commodity consumer may buy 8 percent more oil from overseas in 2016, taking average purchases to 7.2 million barrels a day, according to the median of seven respondents in a Bloomberg survey including FGE and Energy Aspects Ltd. The country’s inbound shipments in the first 11 months of last year increased 8.8 percent to 6.63 million barrels a day and touched a monthly record of 7.4 million in April, customs data show.
Gold MCX CMP: 25447Gold Silver Reports – The year 2016 is likely to see a slow start, similar to what was witnessed in the last couple of years, due to some additional slowdown in manufacturing, said Mark Vitner, senior economist at Wells Fargo Securities.
The forward looking data on manufacturing is still pointing to additional deceleration – new orders data looks horrible, while the US economy failed to record any growth in industrial production in 2015. A lot of people try to minimize the troubles in the factory-sector arguing manufacturing is a small part of the economy, but it still accounts for the bulk of the swing in GDP from quarter-to-quarter.
Gold Silver Reports – Agri markets opened on a subdued note in the New Year as closure of International markets kept export demand low. Prices likely to remain a bit volatile in the short term but are likely to show recovery as exports start recovering amidst a pickup in domestic demand.
Gold Silver Reports – For 2016, the pace of rate hike in the U.S will decide the fate of yellow metal’s prices. Also, a rebound in oil prices is expected to underpin gold going forward.
Gold Silver Reports – Takata Corp. surged the most in more than a year in Tokyo trading after the Sankei newspaper reported that Japanese automakers may provide support to the air-bag maker to safeguard access to its technology.
The report said the companies may jointly invest in Takata, spread the recall claims against the air-bag maker over several years and postpone their demands for price cuts for parts. Honda Motor Co., the automaker most affected by the recalls, said it’s waiting for the results of the investigation into the root cause of the defect and isn’t planning to extend aid or invest in Takata, according to spokesman Teruhiko Tatebe.