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Dealing Desk: May you hold the cup? + MORE

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Crude oil’s rally continued last week and outlook is unchanged. Current rise is expected to extend to 61.8% retracement of 62.58 to 26.05 at 48.63 next. Nonetheless, break of 43.03 support will indicate short term topping and bring deeper pull back, to 55 days EMA (now at 40.28).

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Near term outlook in gold remains bullish with 1228.5 support intact. Current rise from 1045.4 is expected to target 61.8% projection of 1045.4 to 1287.8 from 1228.5 at 1378.3 next. We’ll look for topping signal around there. Nonetheless, break of 1228.5 will suggest that the current rally ended earlier than we expect and would turn outlook bearish…

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The Endgame

– .goldmoney.com

And how we got here
There is a growing fear in financial and monetary circles that there is something deeply wrong with the global economy. Publicly, officials and practitioners alike have become confused by policy failures, and privately, occasionally even downright pessimistic, at a loss to see a statist solution…

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This week, clients have been net buying gold whilst net selling silver, platinum, and palladium.
GoldMoney’s clients have favoured Hong Kong and Singapore vaults this week with less preference being shown for the London and Swiss vaults. This is fairly typical with gold as, when the price retreats, our Asian-based clients tend to take advantage of a price discount to accumulate more metal…

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Yesterday, the World Gold Council released its estimate of gold demand for the first quarter of 2016, which compared with supply estimated at 1,081 tonnes.
While the WGC collects its figures assiduously, the demand figures are only those that are known from trade associations, central banks, and ETFs…

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Supply disruption, forecast upgrade and inventory decline helped resume the rally in energy prices. Although failing to breach above US$60/bbl, the front-month Brent crude contract rose to as high as 48.19, just shy of 2016’s high of 48.5, and gained +5.42% last week. The WTI crude contract made a fresh year-high of 47…

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No change in Natural gas’s outlook. It continued to struggle to stay above 61.8% retracement of 2.495 to 1.611 at 2.157. As the choppy rebound from 1.611 is seen as a correction, we’ll stay cautious on topping and reversal around 2.157. Break of 1.950 support will now indicate near term reversal and turn outlook bearish for retest on 1…

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In Part 2 of the GoldMoney® roundtable recorded in Toronto, our panel discusses the history of other items of value—such as salt—and how they fare compared to gold over time. The history and evolution of the banking system is also explored in depth in this lively chat. Participating in the discussion, from left to right: Alasdair Macleod, Roy Sebag, James Turk, Josh Crumb, and Stefan Wieler…

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With 16.83 support intact, near term outlook in Silver remains bullish. . Current rally from 13.62 would target 161.8% projection of 13.62 to 16.17 from 14.785 at 18.91 next. Though, break of 16.835 will indicate short term topping and bring deeper pull back, possibly to 16.17 resistance turned support…

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