Blue Line Futures is a futures and commodities brokerage firm providing actionable proprietary research and a trade desk to speak with as much or as little as you want.

Phillip Streible, Chief Market Strategist

  1. Precious Metals Update: An overnight increase following a previous day’s selloff. Specific figures are provided for February gold, March silver, March copper, and April platinum.
  2. US Inflation Data and Federal Reserve’s Response: The US inflation data was slightly higher than expected. This led to comments from the Federal Reserve Bank of Cleveland President, Loretta Mester, about the prematurity of cutting rates as soon as March. This news put pressure on the markets, causing a sell-off in equities and metals, and a boost in the dollar index.
  3. Middle East Conflict and Market Reaction: Escalating tensions in the Middle East, particularly the coordinated attacks on Iranian-backed Houthi rebels in Yemen by the US, UK, and other countries. This situation appears to be expanding the war in the Middle East, causing nervousness among investors. This is reflected in the rise of February gold, March silver, and February crude oil prices.
  4. Crude Oil Futures and Recession Concerns: Crude oil as one of the most shorted contracts. There’s a belief that as rates rise, crude oil futures should decrease due to a potential recession and reduced demand.
  5. China’s Deflationary Cycle and Impact on Metals: China’s ongoing deflationary cycle, the longest since 2009, and its impact on copper and silver prices.
  6. Silver and Gold Market Analysis: Key resistance levels and the need for a breakout to retest higher levels. In the gold market, there’s a focus on the 50 to 200-day moving average and potential resistance around the $2100 level.

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On the date of publication, Phillip Streible did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.

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