Sunshine Profits

In our previous essay we took a closer look at the situation in silver and mining stocks (precisely: SLV and GDX ETFs) and discussed how it may translate into the precious metals market.

In our previous commentary we discussed the implications that the most recent moves in the USD Index and the general stock market are likely to have on the precious metals market.

After 12 years of gains, gold has fallen nearly 20% this year.

On Thursday, the S&P 500 closed at a new high and its intraday record of 1733.45 broke the all-time high set Sept. 19.

On Monday, after weekend talks failed to reach a solution that would reopen the federal government and raise the federal borrowing limit by October 17, the S&P 500 Index dropped to its intraday low below 1,700.

Without a doubt, oil investors are focusing now mostly on news out of Washington, because it could have the greatest impact on crude prices this week.

Looking at the chart of crude oil from today’s point of view, we can say that the first week of a new month and a new quarter was quite good for oil bulls.

One of the main events of recent days was the first U.S. government shutdown in 17 years

One of the main events of recent days was the first U.S. government shutdown in 17 years.

On Wednesday, silver gained almost 2.7% and reached $22 as a weak dollar boosted commodities priced in the greenback.