Gold Futures Archives

Category Archives: Gold Futures

July 18th Futures: Index Sell-Offs, Record Gold Prices, and Natural Gas Declines

July 17th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, E-Mini Futures, Energy Futures, Future Trading News, Futures Broker, Futures Trading, Gold Futures, Natural Gas | Comment (0)

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What you need to know for July 18th – Futures Markets

By Mark O’Brien, Senior Broker

Indexes: 

The September E-mini S&P 500 stock index futures contract climbed to it latest all-time high yesterday, closing at 5715.50, only to see its largest sell-off in two years today, currently down ±72 points / 1.25%.

Leading the index pack, however, the September E-mini Nasdaq is currently down ±625 points / 3.00% and ±900 points from its own all-time high posted last Wednesday, closing then at 20,896.50 and breaching 20,000 at this blog’s typing.

Metals:

Gold prices traded up to an all-time high today on growing optimism the U.S. Federal Reserve will conduct an interest-rate cut in September. The front month August futures contract dropped about 0.26% to $2,459.90 per ounce due to profit-taking after hitting an all-time high of $2,488.40 earlier in the session.

Markets now see a 98% chance of a U.S. rate cut in September, according to the CME FedWatch Tool.

Following suit, September silver lost ±95 cents (a ±$4750 per contract move) to near $30.50/ounce.

Energies:

Natural gas futures suffered another bout of heavy selling today with the front month August contract losing ±15 cents (a $1,500 per contract move) / 6.75% today and closing near two-month lows and within a few cents of $2.000 /mmBtu. Despite hot weather across much of the U.S. driving power-sector demand, large inventory surplus numbers have proved an overhang for prices

Daily Levels for July 18th, 2024

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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

Key Economic Indicators and Market Movements: PCE Index, GDP Estimates, and Oil Price Fluctuations

June 26th, 2024 Filed under Commodity Brokers, Commodity Trading, Crude Oil, Day Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, Gold Futures | Comment (0)

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The Rest of the Trading Week……

by Mark O’Brien, Senior Broker:

General: 

The focus this week will be on the U.S. Personal Consumption Expenditures Price Index, the Fed’s preferred inflation gauge, which could shed light on the central bank’s interest-rate path.

Also on the radar are U.S. first-quarter gross domestic product estimates and the first debate between President Joe Biden and the presumptive Republican presidential candidate and former president Donald Trump on Thursday.

Metals:    

Gold futures prices fell ± $20 or ± 1% to their lowest level in more than two weeks today, likely on the heels of continued U.S. dollar strength. The front month August contract traded within a few dollars of $2,300 per ounce – which is ±$160/oz. from its mid-May all-time high (Aug. gold closed at $2,461.70/oz. on May 20th). Conversely, the September U.S. Dollar futures contract dollar rose 0.4% to ± 105.75, a near two-month peak against its main rivals, thus making gold more expensive for other currency holders.

Energies:    

After a ± $8.00 per barrel rally in the last three weeks and trading between $80 – $82 per barrel over the last seven sessions, crude oil futures held steady in the face of the strong dollar. Traders appear increasingly confident that global oil inventories will inevitably feel demand pressure – particularly in the northern hemisphere coming into its summer driving season. Geopolitical risks in the Middle East and a ramp-up in Ukrainian drone attacks on Russian refineries are also underpinning oil prices.

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

Daily Levels for June 26th, 2024

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Navigating the Reality of Losing Days in Trading Futures

May 30th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Exchange, Futures Trading, futures trading education, Gold Futures | Comment (0)

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August gold is front month.

September bonds, 10 years, 5/2 and notes is front month.

Some days are just losing days….

Don’t fight it. You will have losing days. I have been in the futures industry for 15 years now and never have I met a trader who did not have a losing day…and I will never meet one….impossible.

Understand it and accept it. One of your hardest jobs as a day trader is to make sure a losing day does NOT become a disaster…Our human emotions and our brain is not programmed very well to learn how to lose. Yet one of the key differences between traders and those who try to become “traders”…is that traders first learn how to lose. They understand losing is part of trading. The others, refuse to take a losing day and will make many mistakes along the way to make a “normal losing” day into a disaster. That may be carrying positions overnight when they normally don’t, reversing, pyramiding and many other mistakes that they would normally not make. That turns a “normal losing day” (maybe for an account of $10,000, a normal losing day would be down $700?) into one of those days where they wipe out half of their account, if not more.

Have realistic expectations. Under the statistics of your own trading. Keep notes.

Sometimes we need to learn how to lose before we can excel in trading.

Questions? We are happy to help!

Daily Levels for May 31st, 2024

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Attack the markets below from the following direction….. + Levels for May 10th

May 9th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, E-Mini Futures, Future Trading News, Futures Broker, Futures Trading, Gold Futures, Metal Futures | Comment (0)

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Soybean daily chart outlook for your review below.

Tomorrow pay attention to Univ. of Michigan Consumer Sentiment as well as few fed members speaking.

Volume has been on the light side for stock index futures.

Both silver, gold and copper resumed upside moves.

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side.

Questions? We are happy to help!

Daily Levels for May 10th, 2024

Economic Reports

provided by: ForexFactory.com

All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

OPEC Meeting + Futures Trading Levels for April 3rd

April 2nd, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Exchange, Futures Trading, Gold Futures | Comment (0)

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OPEC Meeting tomorrow

OPEC+ JMMC meets on Wednesday at 1100 GMT
Producers earlier agreed to extend output cuts
Oil rallies to $89 a barrel, highest this year

LONDON, April 2 (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting on Wednesday, five OPEC+ sources told Reuters, as oil prices hit their highest this year.

The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, will hold an online joint ministerial monitoring committee meeting (JMMC) on April 3 to review the market and members’ implementation of output cuts they have already agreed to extend.