Precious Metals
Oil rallies on outages, gold steady
Oil sees near term support from outages Oil prices are 1% higher again on Tuesday, adding to Monday’s strong gains which came following a flurry of bullish news for crude. Trump’s return from hospital was generally supportive of risk appetite and gave oil a kick higher, while strikes at six Norwegian offshore oil and gas […]

Oil sees near term support from outages
Oil prices are 1% higher again on Tuesday, adding to Monday’s strong gains which came following a flurry of bullish news for crude.
Trump’s return from hospital was generally supportive of risk appetite and gave oil a kick higher, while strikes at six Norwegian offshore oil and gas fields has hit output by around 330,000 barrels of oil evuivalent per day, or 8% of total production.
It’s been an intense hurricane season already and we’re now well into the greek alphabet with eight weeks still to go. Hurricane Delta is rapidly intensifying as it enters the Gulf and oil companies are already beginning offshore evacuations in the region that accounts for 17% of US crude oil production.
WTI is approaching $40 again and while near-term risks seems tilted to the upside, they will pass and the prices could quickly tumble once again.
Gold still looks bearish, despite recent recovery
Gold is pretty flat today but holding above $1,900 which bulls will be encouraged by.
While I’m a longer term bull, I’m far from enthused. The rally is really struggling to gather momentum and while a close above $1,900 was a promising sign, I’m not yet sold. I think some more near-term downside may be on the cards and the reluctance we’re seeing in the recovery rally isn’t changing my view on this.
We’ve seen some paring back but I feel we’re poised for some risk aversion in the coming weeks and right now, that doesn’t favour gold.

A huge few days ahead
We’re seeing plenty of caution in the markets this week which is perhaps not entirely surprising given what lies ahead. Earnings season isn’t going…
The Mining Companies in Ecuador to Watch in 2023 – Solaris Resources, Lundin Gold, and More
Ecuador has become one of the most attractive countries for mining investments in Latin America, with a favourable investment climate, attractive legal…
Emergent Metals Intersects Visible Gold In Early Drilling At Trecesson Property
Visible gold has reportedly been intersected by Emergent Metals (TSXV: EMR) as they get underway with their previously announced drill
The post Emergent…
-
Drilling News15 hours ago
Independent Preliminary Economic Assessment for Atlas Salt’s Great Atlantic Project Supports State-of-the-Art “Salt Factory” Vision
-
Companies24 hours ago
Top Reasons to Invest in Lithium Stocks Now – $LBNK.V $ALB $LAC $LI.V $PLL
-
Base Metals20 hours ago
“Recession Is On Its Way” – Dallas Fed Shows Factory Activity Slumps For 9th Straight Month
-
Uncategorized17 hours ago
Are metals headed for a golden age?
-
Financing News17 hours ago
CORRECTION FROM SOURCE: Excelsior Mining Announces Extension of Nebari Loan and US$3,000,000 Financing
-
Uncategorized22 hours ago
My top picks in the resources sector
-
Financing News22 hours ago
Medgold signs Definitive Amalgamation Agreement for proposed acquisition of Balkan Metals Corp. and issues Convertible Debenture
-
Uncategorized15 hours ago
Auric drilling reveals widespread clay-hosted REEs at Chalice West