FOMC Day, Here's what to watch in Gold, Silver, and Copper! The Metals Minute w/ Phil Streible
Posted: June 14, 2023, 7:06 a.m.
Phil Streible with Blue Line Futures discusses Gold, Silver, Copper, Platinum, and other commodity topics.
PHIL: Good Morning. It's Wednesday, June 14, just before 6:00 a.m. central time, and I'm Phillip Streible, Chief Market Strategist at Blue Line Futures, giving you another Precious Metals minute. Overnight precious metals had a slight rebound Gold futures are up $3 at 1961 Silver futures are up 12 cents at 23.93 Copper futures are up 1 cent at $3.84 Platinum is down $6 at $1976 December Copper futures hit our price objective of $3.88 Seasonal weakness generally appears in Platinum, were the past 14 out of 15 years prices have declined on average $40 per ounce from June 11 until June 24. Gold futures have experienced ten straight days of ETF outflows, and $1950 is your critical support level. Crude Oil futures are rallying on an outlined plan by the Biden Administration to begin to restock the strategic petroleum reserve. Copper futures are supportive with increased prospects of a Chinese stimulus package helping their economy.
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