Commodity Roundup: Gold, silver suffer aggressive, but 'healthy' correction - Saxo Bank

seekingalpha04-23

Gold prices (XAUUSD:CUR) extended their losses on Tuesday, after shedding more than 2% in the previous session to hit their biggest intraday fall in over a year, as improved risk appetite dampened its...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2429763161?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/165418687/image_165418687.jpg","is_english":true,"pubTime":"2024-04-23 18:08","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2429763161","market":"fut","top_or_hot":-1,"title":"Commodity Roundup: Gold, silver suffer aggressive, but 'healthy' correction - Saxo Bank","media":"seekingalpha","content":"<div>\n<p>Gold prices (XAUUSD:CUR) extended their losses on Tuesday, after shedding more than 2% in the previous session to hit their biggest intraday fall in over a year, as improved risk appetite dampened its...</p>\n\n<a href=\"https://seekingalpha.com/news/4092285-commodity-roundup-gold-silver-suffer-aggressive-but-healthy-correction-saxo-bank\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Commodity Roundup: Gold, silver suffer aggressive, but 'healthy' correction - Saxo Bank</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCommodity Roundup: Gold, silver suffer aggressive, but 'healthy' correction - Saxo Bank\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-23 18:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4092285-commodity-roundup-gold-silver-suffer-aggressive-but-healthy-correction-saxo-bank><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gold prices (XAUUSD:CUR) extended their losses on Tuesday, after shedding more than 2% in the previous session to hit their biggest intraday fall in over a year, as improved risk appetite dampened its...</p>\n\n<a href=\"https://seekingalpha.com/news/4092285-commodity-roundup-gold-silver-suffer-aggressive-but-healthy-correction-saxo-bank\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UGA","symbol_name":"United States Gasoline Fund LP","start_time":0,"source_url":"https://seekingalpha.com/news/4092285-commodity-roundup-gold-silver-suffer-aggressive-but-healthy-correction-saxo-bank","article_id":"2429763161","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/165418687/image_165418687.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429763161","pubTimestamp":1713866925,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Gold prices (XAUUSD:CUR) extended their losses on Tuesday, after shedding more than 2% in the previous session to hit their biggest intraday fall in over a year, as improved risk appetite dampened its","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UGA":"United States Gasoline Fund LP","SCO":"二倍做空彭博原油指数ETF","BK4570":"地缘局势概念股","GDX":"黄金矿业ETF-VanEck","BK7506":"金矿股","SIL":"Silver Miners Etf","BK4585":"ETF&股票定投概念","GDXJ":"小型黄金矿业ETF(Market Vectors)","BNO.AU":"Bionomics","UCO":"二倍做多彭博原油ETF","BK7067":"生物科技","WEAT":"Teucrium Wheat Fund","CPER":"美国铜指数基金","DBO":"原油ETF-PowerShares","PSLV":"Sprott Physical Silver Trust","BK4535":"淡马锡持仓","DBA":"农业指数ETF-PowerShares DB","USO":"美国原油ETF","SLV":"白银ETF(iShares)","BK4588":"碎股","BK4550":"红杉资本持仓","USL.AU":"Unico Silver Ltd","BK7095":"多种金属与采矿","BK7104":"黄金","PALL":"Aberdeen Standard Physical Palladium Shares ETF","IAU":"黄金信托ETF(iShares)","BK4547":"WSB热门概念","USL":"United States 12 Month Oil Fund LP","GDX.AU":"VANECK GOLD MINERS ETF","NUGT":"二倍做多黄金矿业指数ETF-Direxion","BK4504":"桥水持仓","FDN":"First Trust Dow Jones Internet I","SOYB":"Teucrium Soybean Fund","BK7507":"资源股","PHYS":"Sprott Physical Gold Trust","UNG":"美国天然气基金","CORN":"Teucrium Corn Fund","BK7508":"医药生物股","BNO":"美国布伦特原油基金有限合伙企业","GLD":"SPDR黄金ETF","DBO.AU":"Diablo Resources Limited"},"translate_title":"大宗商品综述：黄金、白银遭受激进但“健康”的修正——盛宝银行","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNO":1,"IAU":1,"GLD":1,"GDXJ":1,"GDX.AU":1,"GDX":1,"NUGT":1,"DBO.AU":1,"DBO":1,"DBA":1,"CPER":1,"CORN":1,"BNO.AU":1,"PALL":1,"PHYS":1,"PSLV":1,"SIL":1,"SLV":1,"SOYB":1,"UGA":1,"UNG":1,"USL":1,"USL.AU":1,"USO":1,"WEAT":1,"FDN":0.9,"SCO":0.6,"UCO":0.6},"content_text":"Gold prices (XAUUSD:CUR) extended their losses on Tuesday, after shedding more than 2% in the previous session to hit their biggest intraday fall in over a year, as improved risk appetite dampened its safe-haven appeal. U.S. stocks rose on Monday after a market sell-off in the previous session, as tensions in the Middle East eased, and investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the U.S. economy's health. Gold is often hailed as a hedge against inflation and geopolitical turmoil.   Gold’s aggressive rally since the mid-February low is currently being challenged with bullion suffering a long overdue and relatively aggressive, but healthy correction, Saxo Bank's Ole Hansen said. This correction, he said, will help determine the real level of underlying demand. Geopolitical tensions coupled with robust central bank buying had driven gold to a record intraday high of $2,448.80/oz on April 12; the front-month contract gold for April delivery posted a new record close on Friday at $2,398.40/oz. Hansen further noted that, just like gold, silver is also going through a relatively aggressive correction, with the selling being amplified by its recent failure to break above $30 per ounce, the 2020 and 2021 high. \"Having outperformed gold during the recent run-up, it is now retracing faster, as seen through the gold-silver ratio...\" Spot silver (XAGUSD:CUR) dropped 2.24% to $26.70 per ounce by 6:04 am ET. However, geopolitical risks related to Russia/Ukraine and the Middle East, along with strong retail demand in China, remain positive factors for gold.  Oil prices meanwhile were mixed as traders awaited a new round of U.S. economic data. Recent manufacturing indicators have been positive, particularly in the United States, and investors are looking for signs of improvement outside the U.S. Brent Crude (CO1:COM) futures rose +0.22% to $87.19 a barrel, while U.S. crude (CL1:COM) fell -1.00% to $82.02. Elsewhere, Venezuela's state-run oil company PDVSA plans to increase digital currency usage in its crude and fuel exports as the U.S. reimposes oil sanctions on the country, Reuters reported.  The move will make it more difficult for the country to increase oil output and exports, as companies will have to wait for individual U.S. authorizations to do business with Venezuela. Recent Commodity Price Movements and A look At Some ETFs  Energy  Crude oil (CL1:COM)  -1.01% to $82.01. Natural Gas (NG1:COM) +0.73% to $1.80.  Metals  Palladium(XPDUSD:CUR) -1.62% to $1,000.50. Platinum (XPTUSD:CUR) -1.26% to $920.50. Gold (XAUUSD:CUR)  -1.66% to $2,295.05.  Agriculture   Corn (C_1:COM)  -2.07% to $440.44. Wheat (W_1:COM) -1.65% to $577.80.  Commodity ETFs  Gold ETFs:  SPDR Gold Shares ETF (GLD) VanEck Gold Miners ETF (GDX) VanEck Junior Gold Miners ETF (GDXJ) iShares Gold Trust ETF (IAU) Direxion Daily Gold Miners Index Bull 2X Shares ETF (NUGT) Sprott Physical Gold Trust (PHYS)  Other Metal ETFs:  iShares Silver Trust ETF (SLV) Sprott Physical Silver Trust (PSLV) Global X Silver Miners ETF (SIL) U.S. Copper Index Fund, LP ETF (CPER) abrdn Physical Palladium Shares ETF (PALL)  Oil ETFs:  U.S. Oil Fund, LP ETF (USO) Invesco DB Oil Fund ETF (DBO) U.S. 12 Month Oil Fund, LP ETF (USL) U.S. Brent Oil Fund, LP ETF (BNO) U.S. Natural Gas Fund, LP ETF (UNG) U.S. Gasoline Fund, LP ETF (UGA)  Agriculture ETFs:  Invesco DB Agriculture Fund ETF (DBA) Teucrium Soybean ETF (SOYB) Teucrium Wheat ETF (WEAT) Teucrium Corn Fund ETF (CORN)","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429763161"}